NEW (PROPOSED) REGULATIONS FOR CRYPTOCURRENCIES IN MALAYSIA

On 14th Dec 2017, Bank Negara Malaysia (“BNM”) has issued for public consultation an exposure draft on the invocation of reporting obligations on cryptocurrency exchange business as “reporting institutions” under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The draft can be found here (http://www.bnm.gov.my/index.php?ch=57&pg=538&ac=661&bb=file.)

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