KUALA LUMPUR: Bank Negara Malaysia has issued an alert about the cryptocurrency platform called Coinzer as digital currencies are not legal tender in Malaysia.
It said that it does not authorise or endorse Coinzer.
“The use of BNM logo and Jata Negara on the proposed physical coin design, white paper and website https://www.coinzer.co/ are unauthorised,” it said.
Bank Negara advised the public to exercise caution and carefully evaluate the risks associated with investment in digital currencies.
“Digital currencies are not legal tender in Malaysia. Accordingly, digital currencies are not covered by prudential and market conduct standards or arrangements that are applicable to financial institutions regulated by Bank Negara,” it said.
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