Crypto platform approved to operate as Digital Asset Exchange in Malaysia

an in-principal approval from the Securities Commission Malaysia to operate as a digital asset exchange. Hata was founded by David Low, the former Asia Pacific General Manager at Luno.

One unique aspect of Hata’s approval is its distinction as the first DAX to attain digital broker status from the SC. This designation allows Hata to display trade orders from other exchanges on its platform, granting users access to a wider array of trading opportunities. David Low’s departure from Luno adds an intriguing dimension to Malaysia’s digital asset industry. During his tenure, Luno had a stranglehold on the local cryptocurrency trading market, boasting over 90% of the market share.

David Low noted the significance of the SC’s decision to grant them conditional approval. He recognized it as a vote of confidence in both Hata and the digital asset industry. Low also acknowledged the months of extensive efforts that led to this momentous achievement.

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