Granted licenses by Labuan FSA as a credit token business, and for money broking, as well as a payment system operator.
A reduction in participants could mean easier regulation and the ability to better cater to demand.
Any person who is interested in operating a digital asset platform is required to apply to the SC to be registered as a recognised market operator.
SC to regulate offering and trading of digital assets.
Regulations are being put in place to bring digital assets within the remit of securities laws.