Cryptocurrency Q&A
Is MX Global legal in Malaysia?
Is MX Global legal in Malaysia?
Valentina
Sat Jun 29 2024
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6 answers
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Could you please elaborate on the legality of MX Global in Malaysia? Given the rapidly evolving nature of the cryptocurrency and finance landscape, it's crucial to understand whether MX Global operates within the confines of Malaysian laws. Could you clarify if MX Global is registered and compliant with all relevant regulatory requirements in Malaysia? Additionally, are there any specific licenses or permissions required for MX Global to conduct its business activities in the country? Your insight into this matter would be greatly appreciated.
6 answers
Silvia
Mon Jul 01 2024
MX Global, operating as a Recognized Market Operator - Digital Asset Exchange (RMO-DAX), is subject to the oversight of the Security Commission Malaysia (SC).
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Caterina
Mon Jul 01 2024
Additionally, MX Global is required to have robust internal controls and reporting mechanisms to detect and prevent any illicit financial activities on its platform.
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KimchiQueenCharmingKissWarmth
Mon Jul 01 2024
As part of its regulatory compliance, MX Global is mandated to implement stringent processes to monitor anti-money laundering activities.
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Raffaele
Mon Jul 01 2024
The exchange must also adhere to counter terrorism financing and counter proliferation financing requirements to ensure the integrity of its trading platform.
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MichaelSmith
Mon Jul 01 2024
To fulfill these obligations, MX Global must maintain adequate investor protection measures, including thorough KYC (Know Your Customer) procedures.
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