The Securities Commission (SC) has directed Singapore-based blockchain-powered trading and investment platform CopyCash to immediately cease and desist from all its proposed activities, including a purported plan to launch an Initial Coin Offering (ICO) in Malaysia.

The commission has also asked CopyCash, which was planning to launch its ICO, called CopyCashCoin, in Malaysia tomorrow, to stop roadshows, seminars, and other promotional events related to the scheme.

The directive is based on an enquiry launched last week by the commission, which has found there is a reasonable likelihood that disclosures in CopyCash’s white paper and representations to potential investors contravene relevant requirements under securities laws of Malaysia.

Read full news article on e27