Malaysia grants Hata in-principle approval to operate digital asset exchange

Hata, a Malaysia-based cryptocurrency trading platform, has received in-principle approval from the Securities Commission Malaysia to run a “digital asset exchange” and “digital broker” under the country’s Recognised Market Operator framework. 

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• Hata is the fifth registered market operator in the Southeast Asian country, according to the Securities Commission’s website.
• The firm obtained in June a “money broker” license from the financial authority of Labuan, a federal island territory of Malaysia to operate a U.S. Dollar exchange.

• In a press release on Tuesday, Hata said it will be working towards obtaining full approvals from the Malaysian securities regulator before opening its platform to local customers in early 2024.

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