Cease-and-desist order to Singapore’s registered CopyCash in Malaysia by the Securities regulator
Like some cases in the U.S., Malaysia has now issued the respective order to a token issuing company, CopyCash. The Singapore’s registered company had to stop any offering in Malaysia due to the securities regulator order to cease-and-desist any offering in Malaysia. Complying with their lawyers advice, CopyCash decided not to continue with selling its tokens in Malaysia and publicly apologized for any inconvenience.
This increases the importance to make sure compliance with the securities regulations of each jurisdictions where a company plans to undertake a Token offering.