Notice to Persons Operating a Business Relating to Digital Currencies
Pursuant to the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA), persons carrying on activities specified in paragraph 25 of the First Schedule of the AMLA are subject to obligations as a reporting institution under the AMLA.
The Bank has issued the “Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) - Digital Currencies (Sector 6)” policy document on 27 February 2018 (“policy document”) which specifies further detailed requirements imposed on the reporting institutions. Reporting institutions are required to comply with all requirements of the policy which includes an obligation to submit a declaration about the institutions’ business to Bank Negara Malaysia (“the Bank”).
As part of efforts to promote greater transparency surrounding digital currency activities in Malaysia, a list of reporting institutions declared to the Bank and the relevant information are published below for public reference. Members of the public are advised that the publication does not in any way indicate the Bank’s validation of the accuracy and completeness of information declared by reporting institutions.
All declarations required under the policy document must be submitted to: firstname.lastname@example.org.
The Bank wishes to remind that failure to comply with requirements specified under the policy document is an offence under the AMLA, including the submission of information which is false, inaccurate, incomplete or misleading. The Bank may take the appropriate legal action against a reporting institution for non-compliance of the said requirements.
- AML/CFT – Sector 6 Policy Document
- Press release – Issuance of the AML/CFT policy for digital currencies
Notice to Members of the Public
- The information made available on this website does not in any way indicate the Bank’s licensing, authorisation or endorsement by the Bank of any digital currency exchangers or any other entities involved in providing services associated with digital currencies.
- The Bank does not validate any information declared by reporting institutions, nor endorse the pricing methodologies used by digital currency exchangers. Consumers are advised to exercise the necessary caution and understand risks associated with digital currencies.
- Members of the public should be aware that any dealings involving digital currencies are not covered by prudential and market conduct requirements applicable to licensed and authorised activities. There will not be any elements of consumer protection or avenues for redress made available in the event of complaints or losses and damages incurred by any parties dealing in digital currencies.