Open a Cryptocurrency Company in Malaysia

Updated on Wednesday 15th November 2017

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Cryptocurrencies are digital currencies that are not issued or regulated by the Government and offer a secure payment option for transactions. Cryptocurrencies encompass both Bitcoin – the most popular version – and alternative coins or altcoins – which are all digital currencies which are not Bitcoin. 

Our team of lawyers in Malaysia can help you with detailed information and legal assistance if you want to open a cryptocurrency company in Malaysia.


Cryptocurrency company set up in Malaysia


The Malaysian market is an attractive marketplace for investors who want to open a cryptocurrency company. Bitcoin and other digital currencies are also being used for trading and investors are setting up companies that provide bitcoin purchase and sale services to clients, at a pre-established Malaysian ringgit rate. An example of a Malaysian bitcoin exchange company is Xbit Asia.

Alternative cryptocurrencies in Malaysia include Ethereum Litecoin and Dogecoin. Investors who open a cryptocurrency company and even those who plan on buying cryptocurrency for their individual profit are advised to keep in mind that this type of investment has a degree of risk and in most cases, will not yield an immediate profit.

Most investors will choose to open a private or public limited liability company in Malaysia and start working with blockchain platforms and cryptocurrencies. The team of experts at our law firm in Malaysia can give you complete details on the company set up process, including the requirements for foreign investors. We can also help you with taxation information. 
 

Cryptocurrency company regulation in Malaysia


Although as of now there are no explicit regulations, Malaysian financial regulating agencies are considering implementing a set of regulations and guidelines for trading in cryptocurrencies. These will address issues like market transparency, anti-money laundering, registering the cryptocurrency companies in Malaysia and data collection. A clear set of regulations could bring even more investments in cryptocurrency in Malaysia.

One of our lawyers in Malaysia can give you further details when the new policies are issued and can answer any questions related to your existing cryptocurrency business.

Contact us for more information on opening a company in Malaysia and business regulations in different fields.

 

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