Bank Negara to decide on cryptocurrency ban by year-end

Muhammad Ibrahim says the Bank Negara Malaysia guidelines to be announced by the end of the year will also address the risks associated with money laundering and terrorism financing in Malaysia. – The Malaysian Insight file pic, October 4, 2017.

THERE is a possibility that the sale of all cryptocurrencies would be banned in Malaysia, a decision that Bank Negara Malaysia (BNM) will make by year-end.

“This (ban on cryptocurrencies) is something that we will decide on by the end of the year,” BNM Governor Muhammad Ibrahim said when asked if Malaysia would enforce the ban as how China had done.

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