Shariah Council Permits Cryptocurrency Investing and Trading

The Shariah Advisory Council of Malaysia’s securities commission has advised that it is permissible to invest and trade cryptocurrencies on registered crypto exchanges. The Shariah Advisory Council of the Securities Commission Malaysia (SC) reportedly revealed its position on cryptocurrency trading in the country at the Invest Malaysia 2020 event this week.

Malaysia’s securities commission, Suruhanjaya Sekuriti Malaysia, started regulating the country’s cryptocurrency industry on Jan. 15 last year, when “the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019” went into effect. Emphasizing that cryptocurrency adoption is growing worldwide, the company commented in January: What do you think about the Malaysian Shariah Advisory Council’s decision on cryptocurrency?

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