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Securities Commission Malaysia warns against ICO investments
In an official statement, Securities Commission Malaysia (SC), a statutory body with investigative and enforcement powers, has warned the public against initial coin offerings (ICOs) related investment schemes.
The regulator noted the growing popularity of digital token based fundraising activities in Malaysia and highlighted the potential risks involved in such schemes:
The SC urged investors to also fully understand the features of an ICO scheme, and carefully weigh the risks before parting with their monies.
Regulators across the globe are increasingly warning the investors against ICO related investments. The Securities and Exchange Commission (SEC) recently urged investors to exercise high caution when dealing with ICOs, while China called an immediate ban of all ICO activities. More recently, the Bank of Russia also warned the public saying that it does not guarantee cryptocurrencies, adding that most cryptocurrency-related operations are performed out its legal regulation.
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