E-Wallet DuitNow QR is coming in a BIG way... What is that?

Too many e-wallets?

Too many bank accounts?

Why this merchant only accept Boost and not other? 

Aiyo... Too many apps inside my smartphone lah...

Got any way to consolidate all these e-wallets or banks when I want to transact?

This topic has been lingering around for more than 1 year since the emergence of DuitNow. To recap, 8 December 2018 marks another milestone in the financial industry in Malaysia with the launching of DuitNow money transfer service. (Read blogpost: A New Way of Transferring Money via DuitNow !!!)

Since then, the ideas of consolidating all the e-wallets + bank accounts has been mooted, so to eliminate the hassle of too many e-wallets & bank QR accounts just for the sake of paying/transacting.

Good news is here...

COVID-19 Special Tax Relief for Individuals

Due to the pandemic crisis, the government has announced several measures to lessen the burden of people and this include some new personal tax reliefs, as well as increases in some existing ones.

Work from home (WFH) folks you've been spot on, and you must know this new tax relief category. Keep reading!!!

1. Special Tax Relief (for YA2020 only)

SC: Malaysia only has 3 Digital Asset Exchanges (DAX) currently

Following the coming into force of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 on 15 January 2019, and the subsequent issuance of the revised Guidelines on Recognized Markets on 31 January 2019 to introduce new requirements for DAX operators, the SC has now registered three Recognized Market Operators (RMOs) to establish and operate digital asset exchanges in Malaysia.

Entities which have not been approved by the SC, including those which have previously been operating under the transitional period, are required to cease all activities immediately and return all monies and assets collected from investors.

These lists will regularly be updated and members of the public are encouraged to refer to these lists when dealing with digital asset exchanges.

(Updated list as of 1 June 2019)

Registered Recognized Market Operators - Digital Asset Exchanges