Hata Receives Approval to Register as Digital Asset Exchange and Broker in Malaysia

Hata, a Malaysia-based company co-founded by David Low, has received in-principle approval from Securities Commission Malaysia to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. This approval will allow Hata to launch its services in six to nine months, making it the fifth regulated digital asset exchange in Malaysia and the first legal entity to receive approval as a digital broker. Hata also received a money broker license from the Labuan Financial Services Authority in June, enabling it to exchange USD. Other crypto exchanges such as Binance and Huobi Global have faced challenges in the Malaysian market due to lack of registration with SC.

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