ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Saturday Dec 16th 2017
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Malaysian Authorities Creating Cryptocurrency Regulatory Infrastructure

By

Jeremy

Nation

WriterETHNews.com

To make cryptocurrencies more subject to oversight, frameworks for the regulation of blockchain-based currencies will be established in Malaysia.

According to reports on November 22, 2017, the Malaysian central bank governor Muhammad Ibrahim said that the country is in the midst of creating a structure to regulate cryptocurrencies. These statements came during a summit addressing counter-terrorist financing efforts.

Ibrahim said that a designation of "reporting institutions" will be ascribed to those entities offering the exchange of cryptocurrencies under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act. The law will require these "reporting institutions" to take precautions to ensure compliance with AML regulations, and will effectively make their financial goings-on auditable. The timeline for establishing these regulations has yet to be announced.

According to Muhammad, the regulatory effort will reinforce economic cohesion: "This is to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system."

Earlier this month, the Malaysian Securities Commission published a Digital Market Strategy designed to make financing more accessible, and to advance investor participation with a pilot program that will provide the commission with critical data. 

Jeremy Nation

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Malaysia, anti money laundering or other Ethereum law and legislation news.