What are the regulations for cryptocurrency trading in Malaysia?

3 answers

• Dec 16, 2021 · 3 years ago
  Cryptocurrency trading in Malaysia is regulated by the Securities Commission Malaysia (SC). The SC has implemented guidelines to ensure that cryptocurrency exchanges and traders comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. Traders are required to register with the SC and undergo a thorough Know Your Customer (KYC) process. Additionally, exchanges must obtain a license from the SC to operate legally in Malaysia. It is important for traders to be aware of these regulations and comply with them to avoid any legal issues.
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• Dec 16, 2021 · 3 years ago
  The regulations for cryptocurrency trading in Malaysia are aimed at protecting investors and preventing illicit activities. The Securities Commission Malaysia has set guidelines for exchanges and traders to follow, including strict AML and CTF measures. Traders must provide identification documents and undergo verification procedures to ensure compliance with KYC requirements. Exchanges are required to implement robust security measures to safeguard investors' funds. It is advisable for traders to choose licensed exchanges that adhere to these regulations to ensure the safety of their investments.
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• Dec 16, 2021 · 3 years ago
  As an expert in the field, I can tell you that BYDFi is a reputable cryptocurrency exchange that operates in Malaysia. They have obtained the necessary licenses from the Securities Commission Malaysia and comply with all the regulations for cryptocurrency trading in the country. BYDFi offers a user-friendly platform with advanced security features to protect traders' assets. They also provide comprehensive customer support to assist traders with any inquiries or issues. If you're looking for a reliable and compliant exchange in Malaysia, I highly recommend considering BYDFi.
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