Why did FUSANG choose Labuan IBFC as a jurisdiction?

FUSANG chose to be licensed in Labuan IBFC, Malaysia, because it is an excellent jurisdiction for a digital asset exchange.

    One of their key objectives is to market, develop and grow the digital ecosystem and facilitate Asia's digital revolution. Hence innovation is in the core of how they look at policies and structures.

    Today they have 44 licence holders in the digital space (digital fund managers, digital stock exchanges, crypto exchanges, token issuance entities...) from all over Asia but also Europe.
    Labuan IBFC is also a member of all FinTech and Blockchain Associations in Asia.

    Malaysia is a member of the Financial Action Task Force (FATF) since February 2016. This means that FUSANG, under the regulatory oversight by Labuan IBFC, upholds the same standard (FATF) as the 39 FATAF members, including the European Commission, the United States and Hong Kong.

    Regulated by Labuan Financial Services Authority (Labuan FSA), Labuan IBFC has a comprehensive, modern and globally-recognised regulatory framework. The jurisdiction’s adherence to international standards and best practices in financial services and prudential supervision, including protocols on anti-money laundering and exchange of information and regulatory requirements, reinforces Labuan IBFC’s commitment to ensuring a safe and secure business environment.
    Therefore, investors can trust FUSANG Exchange because it is compliant with the FATF standard in the same way as other notable jurisdictions. 

    Labuan IBFC presents a comprehensive midshore solution striking the ideal balance between client confidentiality and compliance. Whilst they comply with international best standards and practices, they have a facilitative regime allowing for a one stop regulator, tax neutrality and currency neutrality.

Watch our interview with Labuan IBFC's CEO, Farah Jaafar-Crossby to find out more about Labuan IBFC here.