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Bank Negara: Monthly digital currency transactions stood at RM75m in 2017

March 14, 2018 8:31 AM
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Bank Negara said those who used and traded in digital currencies were doing so at their own risk and consumer protection was not guaranteed under any law. — Reuters picKUALA LUMPUR, March 14 — Bank Negara Malaysia (BNM) has estimated the average monthly transaction of digital currency in the country last year stood at RM75 million.

The Finance Ministry, in a written reply dated March 12 to Dr Ko Chung Sen (DAP-Kampar) circulated in the Dewan Rakyat today, said, however, digital currency was not recognised as legal currency in Malaysia or any other country.

“BNM does not plan to recognise Bitcoin or any digital currency. BNM also does not currently have any proposal for issuing its own digital currency,” said the written reply.

It said those who used and traded in digital currencies were doing so at their own risk and consumer protection was not guaranteed under any law.

Source: themalaymailonline.com

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