Tag Archives: Malaysia

Central Bank of Malaysia Plans Cryptocurrency Reporting Rules

The governor of Malaysia’s central bank, Bank Negara Malaysia (BNM), has provided more detail on its upcoming regulatory framework aimed to counter the illicit uses of cryptocurrencies. In statements made today at a counter-terrorism financing summit, BNM governor Muhammad Ibrahim said the new rules are being drawn up to combat the financing of money-laundering and terrorism in […]

Malaysia to enforce cryptocurrency regulation in 2018

KUALA LUMPUR: Malaysia’s central bank, Bank Negara Malaysia (BNM), will designate persons converting cryptocurrencies into fiat money as reporting institutions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 from 2018. BNM governor Muhammad Ibrahim said the move was aimed at preventing the abuse of the system for criminal and unlawful […]

To Regulate or Not? Securities Commission in Malaysia Talk Up Cryptocurrency Framework

The Securities Commission Malaysia (SC) is working to release a cryptocurrency framework for the country in the next three months. Speaking at Sime Darby Convention Centre, Kuala Lumpur, Chairman Ranjit Ajit Singh revealed the regulator was working closely with Bank Negara Malaysia, the country’s Central Bank. His comments to reporters came on the sidelines of […]

Malaysia Legalizing Bitcoin? Bank Negara Issuing Guidelines for Crypto

In the wake of recent and painful Chinese cryptocurrency lockdowns, other countries are beginning to be more open to Bitcoin and others. A recent statement by Malaysia’s Bank Negara governor Tan Sri Muhammad Ibrahim at the Global Symposium on Developing Financial Institutions would indicate that Malaysia may be the next to open its doors to Bitcoin. The […]

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