Tax man crack down on Luno exchange in Malaysia

13 January 2018

https://luno.statuspage.io/incidents/lzzrvb1mq51y

Now we know the reason why deposits and withdrawals are suspended in the Luno exchange.

According to Luno,
"The Internal Revenue Board (IRB) has temporarily frozen the bank account of BitX Malaysia (our local entity in Malaysia), pending an investigation relating to tax matters. As part of this, the IRB has requested that we provide them with information on all our Malaysian customers: identification, deposits/withdrawals, and transactions."

As the saying goes, there are two things that are certain in life, death & TAXES..