Malaysia is a federal constitutional monarchy in Southeast Asia with a population of 32 million and an area of 330 kilometers. Malaysia has a recently industrialized market economy with a relatively fast GDP growth and a highly competitive market. Malaysia is considered to be attractive for foreign investments as it has a highly diversified and robust economy. The Malaysian economy is a producer of such export goods as electronic products, petroleum, chemicals, machinery and scientific equipment that are mostly sold to Singapore, China and Japan. The Malaysian government has issued no Bitcoin regulations. Malaysia allows Bitcoin mining and trading with no restrictions. However, the Central Bank of Malaysia issued a statement that Bitcoin is not considered to be legal tender and its users are poorly protected from fraudulent schemes and operational risks.
A Shariah Advisory Council chairman in Malaysia has praised the “great potential” of cryptocurrency
Malaysian SC Shariah Advisory Council praises crypto’s ‘great potential’
“I am handing over the public-listed company’s business to the new directors and I will concentrate on cryptocurrencies,” said the 65-year-old.
Malaysian billionaire steps down to pursue 'horse currency' offering
The U.S. Justice Department has announced sanctions against two Russians, and the arrest of two Malaysians, over separate seven-figure crypto scams.
US ramps up enforcement actions against global crypto scams
The cases of the robber’s two accomplices are still pending.
Singapore man pleads guilty to stealing $360K in fake Bitcoin sale
Standard Chartered Bank has launched the first remittance service in Bangladesh.
Bangladesh to get its first blockchain remittance service
The two crypto mining operations stole almost $20,000 in electricity monthly.
Malaysian authorities arrest crypto miners for $600K power theft
They thought they had it made, but the Malaysian authorities were one step ahead.
Malaysian Crypto Miners Were Caught Stealing Electricity From the State