Draft Rules for Cryptocurrency Exchanges Published by Malaysia’s Central Bank

Asia Malaysia Regulations

New measures aim to address money laundering and terrorism financing concerns associated with cryptos.

New draft regulations for cryptocurrency exchanges in Malaysia have been published on the country’s central bank’s website.

Bank Negara Malaysia requested the public to provide feedback on its new measures aim to address money laundering and terrorism financing concerns associated with cryptos.

According to the proposed rules, cryptocurrency businesses would be required to verify their customers’ identities, monitor transactions and report any suspicious activities to the authorities.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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