IRB’s action over Luno Exchange

IRB's Action against Luno

The Inland Revenue Board charged an investigation in Luno, London based cryptocurrency exchange. The Luno bank accounts in Malaysia were frozen as per the order so as to audit whether the company had complied with the regulations as per Income Tax Act. It was also aimed to determine whether the company had involved in any money laundering activities. It was emphasized that all Malaysian traders should adhere to the law maintaining proper records for audit.

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