{"id":50043,"date":"2021-10-07T11:57:56","date_gmt":"2021-10-07T03:57:56","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=50043"},"modified":"2021-10-08T11:58:12","modified_gmt":"2021-10-08T03:58:12","slug":"rimauswap-crypto-exchange-ordered-to-cease-its-activities","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/rimauswap-crypto-exchange-ordered-to-cease-its-activities","title":{"rendered":"RimauSwap Crypto Exchange Ordered To Cease Its Activities"},"content":{"rendered":"

The Securities Commission (SC) has issued a cease and desist order to RimauSwap for operating a Decentralized Exchange (DEX) without authorisation.<\/p>\n

The decentralised cryptocurrency exchange has also been placed on the SC’s Investor Alert List<\/a>. DEX is a peer-to-peer exchange that allows individuals to swap digital assets directly with one another without an intermediary.<\/p>\n

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\u2019s website.<\/p>\n

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.<\/p>\n

Operating a DEX without registration with the SC is an offence under the Malaysian securities laws.<\/p>\n

Members of the public can report any suspicious activities, websites and investment opportunities to the SC\u2019s Consumers and Investors Department at tel: 03-6204 8999 or e-mail: aduan@seccom.com.my.<\/p>\n","protected":false},"excerpt":{"rendered":"

The decentralised cryptocurrency exchange has also been placed on the SC’s Investor Alert List.<\/p>\n","protected":false},"author":1,"featured_media":50044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[630,660],"class_list":["post-50043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","tag-bitcoin","tag-investment"],"acf":[],"yoast_head":"\nRimauSwap Crypto Exchange Ordered To Cease Its Activities<\/title>\n<meta name=\"description\" content=\"Transactions in DEX are operated through an automatic protocol mechanism known as smart contracts. 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