Friday 29 Mar 2024
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KUALA LUMPUR(Nov 24): Bank Negara Malaysia (BNM) has denied a news report today which stated that the central bank is likely to appoint an official cryptocurrency exchange.

The article had quoted an industry expert whose name was withheld as saying that Luno, a globally-recognised cryptocurrency exchange could be appointed as the sole crypto exchange.

“Bank Negara Malaysia categorically states that there are no formal plans to establish or appoint an official cryptocurrency exchange in Malaysia,” the central bank said in the statement.

The central bank went on to say that a regulation will be issued to make any persons or entities providing the service of digital currency exchange as reporting institutions under schedule 1 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, effective 2018.

“This will proactively secure Malaysia against the abuse of digital currencies for unlawful purposes amidst the growing use of this new form of currencies and its associated exposure to money laundering and terrorism financing risks,” said Bank Negara.

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