KUALA LUMPUR: Bank Negara Malaysia (BNM) has again stressed the ringgit is Malaysia’s only legal tender and digital currencies are not. The central bank yesterday issued the Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies (Sector 6) for digital currencies to combat such white collar crimes. Blockchain technology and digital currencies, or more commonly known now as cryptocurrencies, are often talked about in the trading and financial world. “Feedback from respondents mainly focused on the obligations imposed on digital currency exchangers, including businesses providing intermediary services involving digital currencies. “It reiterated that reporting obligations on digital currency exchange business did not in any way connote the authorisation, licensing, endorsement or validation by it or any entities involved in the provision of digital currency exchange services.

Source: New Strait Times February 27, 2018 09:45 UTC