Malaysia’s Central bank may ban cryptocurrency!

The Malaysia’s central bank governor will not rule out a ban on cryptocurrencies. Speaking to reporters upon upcoming regulations at a financial crime conference in Kuala Lumpur, the Bank Negara Malaysia (BNM) governor said that it would be decided at the end of the year whether to ban the trading of cryptocurrencies under its mandate as a domestic financial regulator or not.

Ibrahim also hinted that Malaysia’s final stance might not be so severe. He said, “This (ban on cryptocurrencies) is something that we will decide on by the end of the year.”

When forced to reveal more information, Ibrahim asked to show some patience. He said that in less than three months all the details would be out. Earlier, BNM stated that Bitcoin would be left unregulated, however, in September it started creating guidelines for entities working with cryptocurrencies. Last month, BNM issued an investor warning against those taking part in blockchain token sales, also known as initial coin offerings (ICOs). The announcement came soon after Chinese authorities issued a statement ordering an immediate ban to all token sales in early September.


Recent Posts

Bitcoin mining as a catalyst in the world’s transition to green energy

Bitcoin mining to drive the world’s transition to green energy. This is what Mike Colyer, Chief Executive Officer of Foundry Digital,…

12 hours ago

April 14, HUGE day for Crypto as Coinbase direct listing is just hours away

Today is a huge day for Crypto. Coinbase, the top cryptocurrency exchange in the United States, will launch its COIN…

14 hours ago

Bitcoin is not a good option for criminals, says former CIA Director in a new report

Bitcoin is not really being used in money laundering operations. And considering the fact every transaction is recorded on the…

1 day ago

“caged bull” Bitcoin breaks into a new all-time high of almost $63,000

Just a day after Bloomberg analyst Mike McGlone called Bitcoin a “caged bull, well rested to escape”, the latter seemed…

1 day ago

Ripple files motions to dismiss lawsuit as XRP blasts to new three-year high

Just before the weekend, Judge Sarah Netburn ruled that Ripple executives Brad Garlinghouse and Chris Larsen’s did not have to…

1 day ago

Cardano, more than a hedge against Ethereum?

In a new video on the popular YouTube channel ‘Coin Bureau’, host Guy shares his thoughts on Cardano and the…

2 days ago