The proposed policy, it said, set out the legal obligations, requirements and standards that digital currency exchangers, which will be defined under the First Schedule of the AMLA, must carry out as reporting institutions.
PETALING JAYA: Bank Negara has issued an exposure draft on the reporting obligations for digital currency exchange businesses under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).
The central bank said this was aimed at ensuring that effective measures were in place against money laundering or terrorism financing risks associated with the use of digital currencies, as well as to increase the transparency of digital currency activities in the country.
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