Malaysia's digital currency

1.

Bank of Malaysia: it does not recognize or prohibit the public from deciding on the future of virtual currency

the president of the National Bank of Malaysia, dansri Muhammad Ibrahim, said that the concept document of cryptocurrency will be finalized this month, and the future of the virtual currency will be decided by the public

he mentioned that Malaysia's response is slightly different from that of some countries that have decided to ban cryptocurrency. Malaysia will not ban cryptocurrency at present, but let the market decide the future of cryptocurrency. The key is that our country must understand what is inside it

however, on September 28, Dato Mohamad zabidi bin Ahmad, senior director and global head of CIMB, Malaysia's second largest bank, attended the launching ceremony of an exchange called "urcoin" and publicly expressed the bank's support for it

It can be seen from this that although Malaysia does not affirm digital currency as its legal tender, it has selected some projects to support it, observe its development and prepare for the future legislation

2. These so-called imported digital currencies are generally unreliable. They are mainly promoted by the marketing mode. In fact, they have no value. The so-called concept of their publicity does not exist. There is no technical support. It is just a digital game. And these coins will often play under the banner of an international or a company to cheat
it is suggested to pay more attention to the mainstream digital currencies such as bitcoin, Ruitai coin, Laite coin and vitality coin.

3. This so-called Malaysian MBI has long been proved to be a pyramid scheme. Also dare to play, either you are bold, or you are trapped, deceive more people into you. If you're cheated, go to the police. Most of these coins are pyramid schemes. Bitcoin, Ruitai coin, Laite coin and doggy coin can be called digital currency.

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5. Malaysia MBA has long been proved to be an international pyramid scheme. I've seen relevant news reports before. Users can query by themselves. It is recommended to stay away from it. If you don't understand digital currency, you should stay away from it. If you are interested, you should pay attention to some valuable digital currencies. For example, bitcoin, dogcoin, decent
needless to say, bitcoin has been widely recognized and accepted in the world. Dog Coin focuses on small rewards and charitable donations; Decent is a distributed content publishing platform based on blockchain technology.

6.

Compliance is the general trend of the development of the digital currency instry. Although the supervision of digital currency in various countries is becoming more and more mature and strict, it is good for the long-term development of the instry. Only by providing a qualified and standardized market for digital currency can the instry develop healthily and the participants can enter on a large scale, In addition to a developed country taking the lead in the standardized development of digital currency, a number of minority countries and archipelagos are also following. They are actively using digital currency to upgrade and transform the original economic system, and are standing out on the road to the future of blockchain era

Malaysia updated its legal framework in 2018 and adopted cryptocurrency regulatory rules,. According to them, exchanges, exchanges and organizations that convert non statutory funds are referred to as "reporting agents.". Control in this area is vested in the National Central Bank (the National Bank of Malaysia) and the Securities Commission, the main regulator. It must regulate relationships within the ICO framework and issue licenses for the exchange of cryptocurrency

The change of digital money market is not only influenced by its own growing mature factors, but also by national policies. Looking around the world, countries have different policies on digital money, ICO and exchanges, but also have different regulatory attitudes towards digital money, It also directly determines the settlement choice, survival and development of blockchain project parties and enterprises related to digital assets, and whether the assets of digital currency holders are protected by law

7. Southeast Asia, including Kuala Lumpur, Malaysia, many fraud cases and platforms, it is recommended to pay attention to safety, beware of being cheated!

8. This so-called m-coin has long been exposed as a pyramid scheme. M-coin has nothing to do with the Malaysian government and the company. It's totally made up by itself

generally speaking, I have the background of a large international company, and I have obtained the support of some government agencies. The currencies operated by Wall Street professional teams are pyramid schemes. If I think about it carefully, will there be no corresponding news reports if it is a large international company or a government agency that enters the cryptocurrency? Neither the mainstream mass media nor the media in the currency circle have reported it. It is conceivable that the possibility of pyramid schemes is very large

before, bitcoin house, the mainstream media in the currency circle, exposed the potter money pyramid scheme, which is the best example.