The Securities Commission Malaysia (SC) is seeking public feedback on a proposal that would empower cryptocurrency exchanges to list certain digital assets without explicit regulatory approval. This change is aimed at expediting the market entry for digital assets meeting specific criteria. The SC is considering whether assets deemed higher risk, including privacy coins like Monero and volatile memecoins, should be traded freely. Additionally, the regulator aims to revise security and governance requirements for digital exchanges, enforcing stricter regulations on user asset management and requiring a designated senior manager to oversee wallet administration to prevent asset loss. Exchanges involved in holding user assets must either register as custodians or partner with registered custodians to enhance asset security.

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