The CopyCash Foundation has received a cease-and-desist order from the Malaysian securities market watchdog ahead of its initial coin offering (ICO). 

A statement released by the Securities Commission (SC) says that the notice was issued as a result of an inquiry. The CopyCash platform is promoted using the term \"social travesting\", which is a mixture of both trading and investing in cryptocurrencies. The statement says:

\"The directive was issued by the SC following its inquiry after it found that there is a reasonable likelihood that disclosures in CopyCash Foundation\'s white paper, and representations to potential investors, will contravene relevant requirements under securities laws.\"

 The investigation by the Malaysian SC began on the 5th January, when it was noticed that promotion of CopyCash had increased, with some of the marketing aimed at elderly citizens. The rapid issuing of the cease-and-desist order follows similar moves made by government agencies around the world, who have used similar tactics to stop ICOs just as they are about to launch.

The Malaysian SC has said that it will continue to monitor activity related to ICOs, and will work with law enforcement agencies from around the globe to take any appropriate and necessary action.