Securities Commission Malaysia (SC) has issued a direction for an initial coin offering (ICO) in Malaysia to cease its launch and other related activities. The direction is due to the likelihood that the disclosures and representations in the white paper of the ICO would contravene the securities laws. In an ICO, white papers stipulating the business plans for raising funds via the issuance of cryptocurrencies will be produced by the parties. 
(Source: THE STAR)