Malaysia's Central Bank Is Considering a Cryptocurrency Ban
The governor of Malaysia's central bank would not rule out a ban on cryptocurrencies when discussing upcoming regulation yesterday.
However, it appears that the institution, Bank Negara Malaysia (BNM), is still undecided as to which route to take regarding the technology.
Speaking to reporters at a financial crime conference in Kuala Lumpur, the governor said BNM will decide "before the end of the year" whether to ban the trading of cryptocurrencies entirely. In subsequent statements, however, Ibrahim hinted that Malaysia's final stance might not be so severe.
According to the Malaysian Insight, he said:
"This (ban on cryptocurrencies) is something that we will decide on by the end of the year. The guidelines that we will be issuing before the end of the year will address issues in terms of registering the players, collecting data and ensuring that whatever they do will be transparent."
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