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The Central Bank of Malaysia is considering a ban on cryptocurrency

The governor of the central bank of Malaysia would not rule out a ban on cryptocurrencies when discussing the forthcoming regulation yesterday.

05.Oct.17 2:46 PM
By Daria Zaytseva


The Central Bank of Malaysia is considering a ban on cryptocurrency

Speaking to reporters at a conference on financial crimes in Kuala Lumpur, the governor of Bank Negara Malaysia (BNM) said it would take a decision before the end of the year to ban trading of cryptocurrencies under its mandate as an internal financial regulator.

However, in subsequent statements, Ibrahim hinted that the final position of Malaysia may not be so serious. Pushed for further information, Ibrahim called for patience.

Although it was previously claimed that bitcoin would be left unregulated, BNM announced in September that it would begin creating guidelines for organizations working with cryptocurrencies. Last month, BNM issued an investor warning for those involved in the sales of blockchain tokens, also called initial coin offerings (ICOs).

That announcement appeared shortly after the Chinese authorities issued a statement in early September that they immediately stop selling all the tokens. At an apparent regulatory pressure, leading cryptocurrency exchanges appeared in the following weeks to announce that they voluntarily close their doors in the light of the ban.

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