Share this article
Central Bank of Malaysia Plans Cryptocurrency Reporting Rules
The governor of Malaysia's central bank has provided more detail on upcoming regulations aimed to counter the illicit uses of cryptocurrencies.
Updated Sep 13, 2021, 7:11 a.m. Published Nov 22, 2017, 2:00 p.m.
The governor of Malaysia's central bank, Bank Negara Malaysia (BNM), has provided more detail on its upcoming regulatory framework aimed to counter the illicit uses of cryptocurrencies.
In statements made today at a counter-terrorism financing summit, BNM governor Muhammad Ibrahim said the new rules are being drawn up to combat the financing of money-laundering and terrorism in the country.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to a Reuters report, Ibrahim set out that, under the framework, those who convert digital currencies into conventional money will be termed as "reporting institutions" from next year, under the country's anti-money laundering and anti-terrorism financing act.
Reporting institutions are obliged by law to take preventive measures, such as submitting suspicious transaction reports, to avoid acting as a channel for illicit money transmission.
Ibrahim added:
"This is to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system."
Although the governor did not reveal a precise timeline for finalizing the new regulations, it has been drafting the plan since last September.
Earlier this month, Malaysia's securities regulator, Securities Commission Malaysia, also revealed it is planning a regulatory framework for cryptocurrencies. Aimed at "market integrity and investor projection," the agency indicated that it is working with central bank during the process.
Muhammad Ibrahim image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Strategy shares register first six-month losing streak since adoption of bitcoin strategy in 2020
Crypto analyst Chris Millas has highlighted an unusually persistent slump in Strategy shares, breaking with past drawdown patterns even as the firm continued accumulating bitcoin.
What to know:
- Strategy shares fell in each of the final six months of 2025, marking the first time since the firm adopted bitcoin in August 2020 as a treasury reserve asset.
- The decline stands out for its persistence, as past selloffs were often followed by sharp rebounds.
- The stock sharply underperformed both bitcoin and the Nasdaq 100 despite the firm's continued BTC purchases.
Top Stories
