The Securities Commission Malaysia (SC) is looking into the LaVida Coin (LVC) initial coin offering (ICO) of the local cosmetics millionaire and beauty guru Datuk Seri Hasmiza Othman, also known as Dato’ Vida.
According to the publication on the SC website, the watchdog is reviewing all available information and is checking whether there has been breach of local securities laws. The examination was prompted by several queries regarding the issuance of a whitepaper for the LaVida Coin. As per the whitepaper, the coin is offered as a private funding initiative to raise capital for three new projects of Dato’ Vida.
“The SC advises investors to exercise due diligence and to be cautious of the risks of participating in any investment schemes, in particular schemes involving cryptocurrencies and digital tokens,” the watchdog said.
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