Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. This approval allows Hata to launch its services within the next six to nine months. Hata will be the fifth regulated digital asset exchange in Malaysia and the first legal entity to receive approval as a digital broker, enabling it to display trade orders from other regulated exchanges. In addition, Hata obtained a money broker license from the Labuan Financial Services Authority, allowing it to exchange USD. Hata’s co-founder, David Low, who previously worked at Luno, Malaysia’s largest crypto exchange, stated that their goal is to make digital asset investing easier for institutional investors, businesses, and high-net-worth individuals in Malaysia. Other crypto exchanges, such as Binance and Huobi Global, have faced regulatory challenges in Malaysia and were ordered to cease operations for not registering with SC. Malaysians also have the option of trading crypto on an app offered by Kenanga Investment Bank Berhad, which partnered with China’s Ant Group to launch a wallet and trading app.

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Information	Details
Geography	Asia
Countries	🇲🇾 🇨🇳
Sentiment	neutral
Relevance Score	0
People	David Low
Companies	Labuan International Business and Financial Centre, Hata, Huobi Global (now HTX), Binance, RMO MX Global, Labuan Financial Services Authority, Kenanga Investment Bank Berhad, Securities Commission Malaysia (SC), Luno, Ant Group
Currencies	US Dollar
Securities	None