Malaysia regulates Virtual Currency Year End 2017
On the sidelines of bad news affecting the virtual currency such as tightening by the Chinese government, other countries actually showed a different tendency towards bitcoin and others.
A recent statement from the governor of Bank Negara Malaysia, Tan Sri Muhammad Ibrahim at the Global Symposium on Developing Financial Institutions cited Coin Telegraph indicated Malaysia will be the next country to open their doors to bitcoin.
Muhammad Ibrahim indeed offend some different financial sectors but explicitly mentions that the State Bank is currently working on a guide to virtual currencies.
"We want to produce guidelines virtual currency before the end of this year: especially in regard to anti-money laundering and terrorist financing. We want to make sure that there are clear guidelines for those who wish to participate in this sector, "said Muhammad Ibrahim.
Although not explicit, but still shows that the Malaysian government intends to legalize bitcoin as a medium of exchange, after making the government certainly guide will allow citizens to participate in the virtual currency market legally.
Malaysia has been seen as an ideal location for bitcoin and other virtual currency, and legalized will make huge investments into the country.
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