Malaysia may reg­u­late cryp­tocur­rency

Banking Frontiers - - Regulator -

Bank Ne­gara Malaysia is in the process of draft­ing cryp­tocur­rency reg­u­la­tions. The gov­er­nor of the cen­tral bank Muham­mad bin Ibrahim said the cen­tral bank wants to de­velop rules for those trad­ing and ex­chang­ing cryp­tocur­ren­cies. That process would also in­volve the re­in­forc­ing of ex­ist­ing reg­u­la­tions on money laun­der­ing and ter­ror­ism fi­nanc­ing, he said. It is not clear, how­ever, what shape those reg­u­la­tions will take, or whether other reg­u­la­tory bod­ies will take part in the process. The move rep­re­sents a shift­ing stance on the part of the cen­tral bank, which said in early 2014 that it does not reg­u­late the op­er­a­tions of bit­coin.

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