Cryptocurrency exchange firm, Luno on November 26 <a href="https://www.malaymail.com/news/tech-gadgets/2019/11/26/malaysias-first-fully-approved-cryptocurrency-wallet-luno-is-now-live/1813496">announced</a> relaunching of its digital currencies trading services in Malaysia after receiving regulatory approval from the Securities Commission (SC) of Malaysia.
<h2>Luno First Ventured in Malaysia in 2015</h2>
Moreover, the London-based Luno now becomes the first crypto exchange to operate in Malaysia. The firm first made an application with the Securities Commission for authorization to operate in Malaysia back in 2015. However, in 2017, several issues arose between Luno and Bank Negara Malaysia (BNM). Finally, the application got rejected on the grounds of instability of the digital currency, denying Luno to operate in Malaysia. However, continued negotiations and discussions with BNM. After lengthy discussions, the exchange finally managed to register itself with the Securities Commission in 2018 and recently received the approval of BNM.

According to Marcus Swanepoel, CEO of Luno:
<blockquote> “We are seeing a revolution in global financial services with the adoption and use of cryptocurrencies but this is not going to be an overnight change. Regulators like the Securities Commission, here in Malaysia, who work with new digital assets and blockchain technology are showing real leadership in the sector.”</blockquote>
Additionally, the General Manager of Luno for Southeast Asia, David Low expressed his delight after successful negotiations. He said:
<blockquote>“We’ve been working closely with regulators and banks from day one and we’re now excited to be able to provide customers the ability to buy, sell and trade crypto on our platform. This is a significant achievement and shows the importance of digital assets today and the long-term value of cryptocurrency.”</blockquote>
Also, the CEO of the Malaysian Digital Economy Corporation, Surina Shukri, congratulated the company; after becoming the first to attain approval. He explained that this is an opportunity to become pioneers in an industry that is “growing very fast”.
<h2>Luno Wallet Live for Malaysia Residents</h2>
In conclusion, The Luno platform is now live for residents of <a href="https://www.cryptoknowmics.com/crypto/bloconomic-expo-bridging-malaysias-government-and-global-investors/">Malaysia</a>. In addition, the mobile and desktop versions of the platform can be accessed in the country. Notably, Luno is not providing the cryptocurrency; it is merely a platform on which users can buy, sell, or store cryptocurrencies such as Bitcoin and Ethereum.

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Luno Exchange Receives Regulatory Approval to Operate in Malaysia

Cryptocurrency exchange firm, Luno on November 26 announced relaunching of its digital currencies  trading services in Malaysia after receiving.... %

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Luno Exchange Receives Regulatory Approval to Operate in Malaysia

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