MALAYSIA TO REGULATE CRYPTO TO FIAT CONVERSION !!

I havent yet stopped laughing at this news, and to be quite honest, its quite embarrassing. Well most news coming from Malaysia is at present, so nothing new there!!

So, back to the article, the chief guy from the central bank said that they will .."'designate' persons converting cryptocurrencies into fiat currency as "reporting institutions" under the AMLA" (BLA BLA BLA BLA). lol!! And these "reporting institutions" will be required to conduct due diligence, keep proper records on the customer and transactions, implement AML/CFT compliance programs etc etc etc. Tell you what BNM, before you talk up fancy, let me ask you something, where were these AMLA procedures with regards to 1mdb ?? did they comply to these AMLA procedures and if they did please share with the Malaysian People!!!!

Keep the goodwork boys, keep working under that coconut shell, before you know it, your cushy jobs will be gone!!

PISS OFF FIAT, PISS OFF CENTRAL BANKS!!