Bank Negara wants digital currency exchangers to report their activities


KUALA LUMPUR: Bank Negara has reiterated its stand that bitcoin and its cryptocurrency siblings are not legal payment methods in Malaysia, as the central bank initiates a policy compelling digital currency exchange operators to report their activities. 

Under the new policy, digital currency exchangers will be categorised as reporting institutions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Raising decarbonisation efforts crucial for ports
Advancecon partners ACEN on clean energy
Exsim wins RM15.62mil subcontract
MISC orders LNG newbuilds to service PETRONAS
Cyberjaya Education in land buy
MTAG in RM13.8mil label deal
HI Mobility lands govt contract
Softbank, Grab and Petros sign framework agreement to develop AI platform in Sarawak�
Batu Kawan secures 96.73% stake in MKH as takeover offer closes
DNeX reaches settlement with CGP Fund-linked firms over SilTerra disputes

Others Also Read