World Economy

Malaysia May Ban Crypto Currency

Malaysia May Ban Crypto CurrencyMalaysia May Ban Crypto Currency

Malaysia would not rule out a ban on crypto currency. Just a few weeks ago governor of Bank Negara Malaysia had hinted that Malaysia will be the next economy to embrace Bitcoin very soon, Bernama reported. But on Thursday, in a financial crime conference in Kuala Lumpur, Muhammad Ibrahim said that they will not rule out a ban on crypto currency. He said, “This (ban on crypto currencies) is something that we will decide on by the end of the year. The guidelines that we will be issuing before the end of the year will address issues in terms of registering the players, collecting data and ensuring that whatever they do will be transparent.” Just last month, BNM announced that regulations for those working in crypto currencies exchanges and Initial coin offerings will be announced very soon. It also warned the investors participating in initial coin offerings. China, one of the top destinations for crypto currency exchanges, recently put a ban on trading platforms as a result of which Bitcoin’s value went down.


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