Malaysia draw up framework for cryptocurrencies

Malaysia has initiated work on a regulatory structure for digital currencies as bitcoin
22 November 2017   1015

Governor of the Central Bank of Malaysia stated that from next year those converting cryptocurrencies into conventional currency will be designated as “reporting institutions” in accordance with the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.

The central bank also reports that institutions are bound by law to undertake preventive efforts to avoid their firms from being used as a channel for money laundering and terrorism financing activities.

This is to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system.

 

Tan Sri Muhammad bin Ibrahim

Governor of the Central Bank of Malaysia

However, the date of regulations implementation has not been announced yet.

BTC Extortionists to Send Explosion Threats In US & CA

Police reported that explosive devices in the places specified by extortionists were not found
14 December 2018   102

In Canada and the United States, local businesses and residents received letters threatening to detonate a bomb if they did not send bitcoins to extortionists. Because of this, in some regions, law enforcement officers evacuated people from bus stations, schools and airports, reports Global News.

Extortionists threatened to blow up universities, schools, city halls and local businesses in the US states of Utah, Aidaxo, New York, Oklahoma and Illinois. The New York City Police Department urged residents not to panic or send bitcoins to criminals. Police also reported that explosive devices in the places specified by extortionists were not found.

In Canada, extortionists promised to blow up buildings and car dealerships in Toronto, Edmonton, Ottawa, Calgary and Montreal. Some residents of the attackers asked for a ransom in bitcoins in the amount of $ 20 thousand. After verification, the Calgary police stated that the messages were part of phishing attacks and did not pose a threat to the public.