[{"data":1,"prerenderedAt":122},["ShallowReactive",2],{"/blog/hata-conditional-dax-approval-2023":3},{"id":4,"title":5,"author":6,"authorPic":7,"body":8,"category":111,"coverPics":18,"date":112,"description":113,"extension":114,"meta":115,"navigation":116,"path":117,"seo":118,"stem":119,"type":120,"__hash__":121},"blogs/blog/hata-conditional-dax-approval-2023.md","Hata wins conditional approval as Malaysia's fifth DAX — and first digital broker","Malaysia Blockchain Association Team","https://api.dicebear.com/7.x/avataaars/svg?seed=mba-team-3",{"type":9,"value":10,"toc":102},"minimark",[11,19,22,37,42,57,61,64,70,75],[12,13,14],"p",{},[15,16],"img",{"alt":17,"src":18},"Exchange desk","/img/blog/gen/hata-conditional-dax-approval-2023.svg",[12,20,21],{},"The SC's door has opened again — for a team that knows exactly what's behind it.",[12,23,24,28,29,32,33,36],{},[25,26,27],"strong",{},"Hata Digital Sdn Bhd"," has been granted conditional approval to operate as a ",[25,30,31],{},"Digital Asset Exchange and Digital Broker"," under the Recognised Market Operator framework — the first and only approval issued since the SC reopened DAX applications in November 2022. It makes Hata Malaysia's ",[25,34,35],{},"fifth regulated DAX",", and the first to hold the digital broker registration.",[38,39,41],"h2",{"id":40},"the-team","The team",[12,43,44,45,48,49,52,53,56],{},"Hata is founded by ",[25,46,47],{},"David Low"," — Luno's former APAC general manager, who left the market leader in April — alongside CRO ",[25,50,51],{},"Darien Ng"," and ",[25,54,55],{},"KK Chong",". The pedigree matters: this is the first Malaysian DAX founded by alumni of an incumbent licensee. Hata also holds a Labuan FSA money-broking licence, obtained in June, for a parallel USD-denominated exchange.",[38,58,60],{"id":59},"whats-next","What's next",[12,62,63],{},"As with every conditional approval, Hata now has a compliance runway to complete before launch. The digital broker registration is the piece to watch — it opens the possibility of routing orders across venues, a small step toward the market structure mature exchanges take for granted.",[12,65,66],{},[67,68,69],"em",{},"Update, 24 July 2024: Hata received full SC approval and launched its MYR exchange with more than ten approved tokens.",[71,72,74],"h3",{"id":73},"references","References",[76,77,78,88,95],"ul",{},[79,80,81],"li",{},[82,83,87],"a",{"href":84,"rel":85},"https://www.blockhead.co/2023/10/09/hata-wins-conditional-approval-becomes-malaysias-5th-regulated-dax/",[86],"nofollow","Blockhead — \"Hata wins conditional approval, becomes Malaysia's 5th regulated DAX\" (9 Oct 2023)",[79,89,90],{},[82,91,94],{"href":92,"rel":93},"https://www.businesstoday.com.my/2023/10/09/hata-receives-approval-in-principle-for-digital-asset-exchange-digital-broker-operations/",[86],"BusinessToday — \"Hata receives approval-in-principle for digital asset exchange, digital broker operations\" (9 Oct 2023)",[79,96,97],{},[82,98,101],{"href":99,"rel":100},"https://ringgitplus.com/en/blog/personal-finance-news/hata-secures-full-approval-from-securities-commission-malaysia-to-launch-its-exchange.html",[86],"RinggitPlus — full approval follow-up (26 Jul 2024)",{"title":103,"searchDepth":104,"depth":104,"links":105},"",2,[106,107],{"id":40,"depth":104,"text":41},{"id":59,"depth":104,"text":60,"children":108},[109],{"id":73,"depth":110,"text":74},3,"News","2023-10-09","Founded by Luno's former APAC GM David Low, Hata Digital receives the SC's first DAX approval since applications reopened — with a first-of-its-kind digital broker registration alongside.","md",{},true,"/blog/hata-conditional-dax-approval-2023",{"title":5,"description":113},"blog/hata-conditional-dax-approval-2023","blog","8No01zAAEqdHeNs7PuDfhknKS-oeRcNT5AYCY8iXDFE",1784183599906]