Malaysia Stock Exchange authorizes fundraising through IEO platform

The Malaysian Securities Commission (SC) released detailed guidelines for the digital asset industry on Wednesday, authorizing the sale of tokens through IEO. According to the regulator, an ICO is an innovative business proposal designed to raise funds without selling equity or raising debt before being able to raise funds through venture capitalists or lenders. In addition to the mandatory issuance of token sales on the IEO platform, SC also set a cap on the maximum funds that IEO can raise: the maximum ICO limit is RM100 million (about 24.5 million US dollars), but there are no restrictions on investors. This means that blockchain companies can get funding from retail, professional and angel investors. After the token issuance, SC will also supervise the use of funds generated after the issuance.