In a Press Release on Jan. 9, 2017, the SC announced that they would investigate the CopyCashCoin ICO. The project is set to launch on Jan. 10, 2018 by a Singapore registered foundation. The Commission notes that the ICO operator has organised various talks and seminars in Malaysia.

On January 9th, one day before the launch, the SC send cease and desist order to the CopyCash Foundation. The SC estimates that the project will contravene relevant requirements under securities laws.