Stock Market News

Malaysia grants WeChat, TikTok licences to operate under new law

2025.01.02 00:01

KUALA LUMPUR – Malaysia’s communications regulator said it granted Tencent’s WeChat and ByteDance’s TikTok licences to operate in the country under a new social media law, but that some other platforms had not applied.

The law, aimed at tackling rising cybercrime, requires social media platforms and messaging services with more than 8 million users in Malaysia to obtain a licence or face legal action. It came into effect on Jan. 1.

In a statement on Wednesday, the Malaysian Communications and Multimedia Commission said messaging platform Telegram was in the final stages of obtaining its licence, while Meta Platforms (NASDAQ:), which owns Facebook, Instagram and WhatsApp, had begun the licensing process.

The regulator said X had not submitted an application because the platform said its local user base did not reach the 8 million threshold. The regulator said it was reviewing the validity of X’s claim.

Alphabet (NASDAQ:)’s Google, which operates video platform YouTube, had also not applied for a licence after raising concerns about the video sharing features of YouTube and its classification under the licensing law, the regulator said. It did not state the concerns or how they relate to the law but said YouTube must adhere.

“Platform providers found to be in violation of licensing requirements may be subject to investigation and regulatory actions,” the regulator said. 

Malaysia reported a sharp increase in harmful social media content in early 2024 and urged social media firms, including Meta and short video platform TikTok, to step up monitoring of their platforms.

Malaysian authorities deem online gambling, scams, child pornography and grooming, cyberbullying and content related to race, religion and royalty as harmful.

The companies do not publish the number of users per country on their platforms.

© Reuters. FILE PHOTO: WeChat app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

According to independent data provider World Population Review, WeChat has 12 million users in Malaysia.

Advisory firm Kepios said YouTube had about 24.1 million users in Malaysia in early 2024, TikTok 28.68 million users aged 18 and above, Facebook 22.35 million users, and X had 5.71 million.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 83,570.39 0.88%
ethereum
Ethereum (ETH) $ 1,902.03 1.30%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.34 1.85%
bnb
BNB (BNB) $ 629.28 3.86%
solana
Solana (SOL) $ 129.35 4.03%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.722891 2.25%
dogecoin
Dogecoin (DOGE) $ 0.172894 1.68%
tron
TRON (TRX) $ 0.213284 2.81%
staked-ether
Lido Staked Ether (STETH) $ 1,900.55 1.32%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,427.35 0.86%
pi-network
Pi Network (PI) $ 1.40 6.24%
leo-token
LEO Token (LEO) $ 9.81 0.63%
chainlink
Chainlink (LINK) $ 13.75 2.84%
the-open-network
Toncoin (TON) $ 3.44 1.14%
stellar
Stellar (XLM) $ 0.272129 0.38%
usds
USDS (USDS) $ 1.00 0.00%
hedera-hashgraph
Hedera (HBAR) $ 0.193408 0.36%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,274.27 1.39%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.01%
avalanche-2
Avalanche (AVAX) $ 18.58 4.13%
sui
Sui (SUI) $ 2.30 1.78%
litecoin
Litecoin (LTC) $ 92.52 0.34%
mantra-dao
MANTRA (OM) $ 6.88 3.75%
polkadot
Polkadot (DOT) $ 4.39 1.59%
bitcoin-cash
Bitcoin Cash (BCH) $ 333.61 1.65%
ethena-usde
Ethena USDe (USDE) $ 0.999701 0.03%
weth
WETH (WETH) $ 1,901.59 1.32%
bitget-token
Bitget Token (BGB) $ 4.42 1.23%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999098 0.11%
hyperliquid
Hyperliquid (HYPE) $ 13.60 1.66%
whitebit
WhiteBIT Coin (WBT) $ 28.40 1.51%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,020.34 1.31%
monero
Monero (XMR) $ 209.75 1.08%
uniswap
Uniswap (UNI) $ 6.19 1.41%
susds
sUSDS (SUSDS) $ 1.04 0.06%
aptos
Aptos (APT) $ 5.36 0.42%
dai
Dai (DAI) $ 0.999867 0.00%
near
NEAR Protocol (NEAR) $ 2.55 3.90%
okb
OKB (OKB) $ 49.65 6.56%
pepe
Pepe (PEPE) $ 0.000007 3.56%
mantle
Mantle (MNT) $ 0.829291 4.30%
internet-computer
Internet Computer (ICP) $ 5.71 2.21%
ethereum-classic
Ethereum Classic (ETC) $ 17.80 0.90%
gatechain-token
Gate (GT) $ 21.88 0.52%
ondo-finance
Ondo (ONDO) $ 0.845576 2.88%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,565.39 0.88%
aave
Aave (AAVE) $ 168.40 2.89%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.01 0.11%