Cryptocurrency and Digital Assets Law in Malaysia

The meteoric rise in the use of cryptocurrency and digital assets requires all legal and sociological questions related to them including their legality, customer protection aspects and security implications to be urgently addressed.

This book aims to explain the concept and practicality of cryptocurrency and the legal and regulatory framework surrounding it. This text discusses regulatory guidelines issued by Securities Commission Malaysia, Bank Negara Malaysia and Financial Action Task Force as well as relevant provisions of the Capital Markets and Services Act 2007 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). The analysis and explanation of the multitude of guidelines and policy documents that apply to regulate cryptocurrency and digital assets within the covers of this book no doubt provide much value.

Anti-money laundering and counter financing of terrorism (AML/CFT) issues which arise in relation to cryptocurrency and digital assets and the regulation thereof are given careful consideration. Initial coin offerings, equity crowdfunding and peer-to-peer financing are elaborated on. Scams, problems and challenges impacting cryptocurrency are discussed as are the matters of taxation and the acceptance of cryptocurrency from the Shariah perspective.

This book is useful to those in the designated reporting institutions, the legal profession, policymakers, potential investors, academicians, students and the public at large.