KUALA LUMPUR, July 8 — The Securities Commission Malaysia (SC) today cautioned the public against the usage of Crypto Automatic Teller Machines (Crypto ATMs). In a statement today, the SC said a Crypto ATM is a machine that allows individuals to buy and/or sell digital assets via cash, debit or...
The SC said a Crypto ATM is a machine that allows individuals to buy and/or sell digital assets via cash, debit or credit cards or e-wallets. — Picture from Twitter/SCMalaysia
In a statement today, the SC said a Crypto ATM is a machine that allows individuals to buy and/or sell digital assets via cash, debit or credit cards or e-wallets. These machines are installed at various locations in Malaysia, facilitating the exchange of different types of digital assets with fiat currency and vice versa.
“We wish to caution and remind members of the public not to deal with unlicensed or unauthorised entities or individuals. Those who do so are not protected under the Malaysian securities laws and are exposed to various risks, including fraud and money laundering,” it said. “Anyone convicted may be liable to a fine not exceeding RM10 million or imprisonment of up to 10 years or both,” it said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malaysian actor Mas Khan fined RM17,000 for stealing producer A. Aida’s crypto currency | Malay MailKUALA LUMPUR, July 8 — Actor Mas Khan who was featured in Abang Long Fadil 2 movie was fined RM17,000 or 26 months in jail by the Ampang Magistrates’ Court here today on two counts of stealing RM213,805 worth of crypto-currency wallet belonging to producer Datuk A. Aida. Magistrate Farah...
Read more »
Short-selling suspension extended to stabilise market, says SC chief | The Malaysian InsightShort-selling suspension extended to stabilise market, says SC chief
Read more »
Wall Street investors scored emergency government loans amid pandemic | Malay MailBOSTON, July 7 ― Some investment firms, including those that run hedge funds or manage money for wealthy investors, are among the businesses approved for emergency US government loans to help small businesses pay employees during the coronavirus lockdown, according to data made public yesterday....
Read more »
Retail investors return stronger to Bursa Malaysia | Malay MailKUALA LUMPUR, July 7 — The local stock market saw higher participation from retail investors recently compared to a year ago, according to Bursa Malaysia Bhd chief executive officer (CEO) Datuk Muhamad Umar Swift. He said, there is a significant increase in the participation of retail...
Read more »
Invest in New Zealand’s food tourism, dairy farming and water production, Malaysian investors told | Malay MailKUALA LUMPUR, July 7 — Malaysian companies seeking to become globally competitive should consider investing in New Zealand’s food tourism, dairy farming technology and production of water as the country has lifted most restrictions after reporting no active Covid-19 community cases, said the...
Read more »
Dollar regains footing as investors eye lockdown risks | Malay MailSINGAPORE, July 7 ― The dollar found some traction today, as risks from rising coronavirus cases offset strong economic data and kept a lid on confidence in an economic recovery from the Covid-19 pandemic. Following yesterday slide, the greenback was steady on most majors and clung on near a...
Read more »