Bank Negara Malaysia issues policy document for digital currencies

Bank Negara Malaysia (“the Bank”) has today issued the Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies (Sector 6) which has taken into account feedback received during the public consultation period on the exposure draft released on 14 December 2017. The policy aims to ensure that effective measures are in place against money laundering and terrorist financing risks associated with the use of digital currencies and to increase the transparency of digital currency activities in Malaysia.

What does the policy states ???

How to get your eCCRIS report ???

Applying for a housing loan?
Applying for a business loan?
Applying for a credit card?

You can't run away from being screen through by financial institutions on your credit health check, and one of the reports is called CCRIS. Now, you can get this report via electronically hassle-free with a few simple clicks. Introducing eCCRIS ❤

What is inside CCRIS report?

Cautionary Statement on Initial Coin Offerings by BNM & SC

Securities Commission Malaysia (“SC”) and Bank Negara Malaysia (“BNM”) wish to draw the public’s attention to initial coin offering (ICO) schemes which may involve activities that are subject to laws administered by the SC and BNM. Carrying on such activities without proper authorisation is an offense.

Issuers of ICOs should be mindful that the launching of an ICO, the offering of digital tokens in exchange for digital currency or any form of payment and incidental activities thereof, may trigger regulatory requirements under securities laws. In addition, no person is permitted to carry out any regulated activities such as fundraising, fund management and dealing in capital market products without obtaining necessary approval or authorisation from the SC.

Why Ringgit continues to strengthen lately??? Could SGD/MYR go down to 2.50 ???

Kicking off a good start in 2018, the ringgit has appreciated not just against the greenback but also against the Singapore dollar (SGD), recording a 14-month high today at 2.9994 since Oct 24, 2016 of 2.9948. The ringgit strengthened to a high of 2.9991 today. (TheEdge)

Just when everyone is happily converting their Ringgit for overseas vacations last month, the Ringgit continues to strengthen during the first week of 2018. No wonder many people are speculating that the SGD/MYR could go down to 2.50 level not seen for multiple years. Could this happen this year?

FOUR Reasons why Ringgit on a Bull-run...

What are the differences between SSPN-i and SSPN-i Plus ???

Lately, there is a tremendous interest by the public to find out a scheme called SSPN-i. However, there is another scheme called SSPN-i Plus which is similar, but different. Because of your keen interest, Finance Malaysia takes the initiative to summarize it for you the differences between SSPN-i and SSPN-i Plus for your reading pleasure. Hope you all like it.

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What's the package/plan as mentioned in SSPN-i plus ???

Different plan different benefits ???

How much for each plan ???