Bank Negara stresses Due Diligence on Crypto Traders

Bank Negara stresses Due Diligence on Crypto Traders

The law on “Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies” has been implemented in Malaysia. The central bank, Bank Negara declared cryptocurrency exchanges to operate conferring on the law in rendering fiat-to-crypto and crypto-to-crypto trade services. The bank also stressed the exchanges to conduct due diligence on trading customers by obtaining their personal information.

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