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Malaysia requires reports of digital currency transactions

The Central Bank of Malaysia (BNM) initiated a policy compelling digital currency exchangers to report their activities, reported The Star newspaper on December 15.
Malaysia requires reports of digital currency transactions ảnh 1The Central Bank of Malaysia (BNM) initiates a policy compelling digital currency exchangers to report their activities (Photo: AFP/VNA)

Kuala Lumpur (VNA) – TheCentral Bank of Malaysia (BNM) initiated a policy compelling digital currencyexchangers to report their activities, reported The Star newspaper on December15.

Under the new policy, digitalcurrency exchange operators will be categorised as reporting institutions underthe Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of UnlawfulActivities Act 2001.

In a statement, the bank stressedthat the invocation of reporting obligations on digital currency exchangers isthe first step towards making digital currency activities more transparent inMalaysia.

The BNM reiterated its stand in 2014 thatdigital currency, including bitcoin and other crypto-currency types, is notlegal payment methods in Malaysia.-VNA

VNA
#Malaysia#Central Bank of Malaysia#digital currency#currency exchangers#bitcoin#crypto-currency#payment methods#vietnamplus#Vietnam News Agency
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