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BNM cautions public on cryptocurrency platform
Last update: 12/03/2018

KUALA LUMPUR, March 12 (Bernama) -- Bank Negara†Malaysia (BNM) does not authorise or endorse the Coinzer, a cryptocurrency platform.

"The use of BNM logo and Jata Negara on the proposed physical coin design, white paper and website††are unauthorised," the central bank said on its website.

BNM†advised the public to exercise caution and carefully evaluate the risks associated with investments in digital currencies.

"Digital currencies are not legal tender in Malaysia.

"Accordingly, digital currencies are not covered by prudential and market conduct standards or arrangements that are applicable to financial institutions regulated by BNM," it said.



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US 3.9120/9150
S'pore 2.9735/9770
100 Yen 3.7028/7074
Sterling 5.5312/5370
Euro 4.8243/8299
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 [tally] 15%
 [tally] 78%
Not sure
 [tally] 7%

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