RimauSwap Crypto Exchange Ordered To Cease Its Activities
The Securities Commission (SC) has issued a cease and desist order to RimauSwap for operating a Decentralized Exchange (DEX) without authorisation.
The decentralised cryptocurrency exchange has also been placed on the SC’s Investor Alert List. DEX is a peer-to-peer exchange that allows individuals to swap digital assets directly with one another without an intermediary.
In a statement today, the SC also stated that it is seeking the assistance of the Malaysian Communications and Multimedia Commission (MCMC) to block RimauSwap’s website.
The SC further stated that it has not authorised any DEX operators in Malaysia and cautioned members of the public to not deal with unregistered entities operating a DEX in Malaysia.
Operating a DEX without registration with the SC is an offence under the Malaysian securities laws.
Members of the public can report any suspicious activities, websites and investment opportunities to the SC’s Consumers and Investors Department at tel: 03-6204 8999 or e-mail: firstname.lastname@example.org.