BNM to issue rules on cryptocurrencies by year end


BNM Governor Tan Sri Muhammad Ibrahim said he was looking at this matter and the details as the new form of currency had attracted a lot of attention around the globe.

KUALA LUMPUR: Bank Negara Malaysia (BNM) will issue guidelines on cryptocurrencies by the end of the year.

BNM Governor Tan Sri Muhammad Ibrahim said on Tuesday he was looking at this matter and the details as the new form of currency had attracted a lot of attention around the globe.

"We hope that before end of year to come out with guidelines on cryptocurrency in particular those relating to anti money laundering and terrorist financing. We want to ensure that there are clear guidelines for those who want to participate in this sector," he said.

Muhammad was speaking on the sidelines of the Global Symposium on Development Financial Institutions here at Sasana Kijang.

On the ringgit, he said the local unit should always be reflective of Malaysia's economic strength and fundamentals.

"What is important is not so much the level of the ringgit but what is more important is that the ringgit must reflect the economic strength of Malaysia. If economic growth and inflation is under control then the exchange rates should reflect that," Muhammad said.

 

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

CEO: TRX 99% completed Premium
KPS gets money lending licence Premium
Ancom Nylex gets shareholders' nod for 3-for-1 share split Premium
CSH acquires 1.07 acres land in PJ for RM10mil Premium
Central Global returns to the black in 1Q Premium
Allianz records strong first quarter performance Premium
Ringgit ends higher versus US dollar Premium
IOI Corp posts RM411mil earnings in 3Q22 Premium
PKF resigns as external auditors for Gets Global Premium
MSM Malaysia wants govt to review price of sugar Premium

Others Also Read