The Malaysian central bank will draft the encrypted currency regulations


nnThe Malaysian Securities Regulatory Commission, while reminding investors to alert ICO risk, but the central bank’s position on the encrypted currency has changed. Recently the central bank announced plans to develop encrypted monetary regulatory regulations, in order to look forward to participate in the industry to provide clear guidance.n
nTranslation: Annie_Xun
It is reported that the Malaysian central bank plans to draft the encrypted currency regulations at the end of the year.n
Central Bank (BNM, Bank Negara Malaysia) President Muhammad bin Ibrahim said at a forum on September 19 that the central bank wanted to develop rules for the currency trading and exchange of money. Regional news Free Malaysia Today reports that the process will include strengthening existing anti-money laundering and anti-terrorism financing regulations.n
News quoted Bin Ibrahim as saying:n
n”We hope that by the end of the year we will be able to devise some of the guidance on encrypted currency, especially in relation to anti-money laundering and anti-terrorism financing, and we would like to ensure that we provide clear guidance for those who are looking to participate in the industry.”n
nIt is unclear whether these regulations are specific or whether other regulators are involved. However, this shows that the central bank’s position in the beginning of 2014, the central bank said, “will not regulate the bit currency business.”n
At that time the central bank said, do not consider the bit as a legal currency.n
And the statement shows that Malaysia’s recent block chain technology regulatory progress. The Malaysian Securities Commission, which was responsible for overseeing the financial markets earlier this month, reminded investors of the ICO.n

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