The Securities Commission Malaysia has directed Singapore-registered blockchain startup to cease and desist all its proposed activities including a planned initial coin offering (ICO), prompting an apology from the company. A total of 50 million CopyCashCoin (CCC) was initially going to be released in a token sale, of which 30 million made available through ICO, and the remaining 20 million via private and public pre-sale. The SC Malaysia has cautioned investors over the emergence of “digital token-based fundraising activities/investment schemes”, also known as initial coin offerings (ICO) since last year.