Malaysia issues new rules for cryptocurrency exchanges

The Malaysian Central Bank has announced that new rules for cryptocurrency exchanges in respect of anti-money laundering have come into force.

Bank Negara Malaysia has issued a policy document entitled "Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies (Sector 6)", which came into effect on 27 February 2018.

The rules apply to activities where digital currency is exchanged for money, money for digital currency or one digital currency is exchanged for another, even if the exchange is not located in the country.

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