A Shariah Advisory Council chairman in Malaysia has praised the “great potential” of cryptocurrency Just three months after a landmark decision declaring digital assets trading is permissible under Islamic law, and religious scholars in Malaysia say crypto is looking bullish as an investment. The Malaysian Reserve reported Dr. Modh Daud Bakar, the Securities Commission Malaysia…
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“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. The founder of Malaysian investment giant Country Heights Holdings is stepping down from his position to focus on issuing a cryptocurrency. According to a Sept. 28 article in news outlet The Edge Markets, billionaire…
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The cases of the robber’s two accomplices are still pending. A major suspect in a high-profile theft case related to Bitcoin (BTC) trading has pleaded guilty in a Singaporean court. Syed Mokhtar Syed Yusope, an accomplice in a $360,000 robbery, pleaded guilty in a district court to a robbery charge on Sept. 9, Singeporean news…
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The two crypto mining operations stole almost $20,000 in electricity monthly. Officials in the Malaysian state of Johor shut down two crypto operations which had stolen more than $600,000 worth of electricity over three years. According to a Sept. 1 report from local news site The Star, Malaysia’s Energy Commission, power utility firm Tenaga Nasional…
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Binance is said to be “operating a recognized market” without authorization from the Malaysian regulator. Top cryptocurrency exchange Binance was added to the Securities Commission Malaysia’s list of unauthorized entities earlier today. According to the regulator, the digital asset trading platform is “operating a recognized market without authorization from the SC”. Malayisan law requires cryptocurrency…
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The Malaysian authority that oversees compliance with Islamic law in finance has permitted digital asset trading. In a landmark announcement, Securities Commission Malaysia’s Shariah Advisory Council declared that digital assets trading was permissible. The Malaysian Shariah Advisory Council is the authority that oversees the implementation of Islamic laws in the operation of Islamic Financial Institutions.…
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Malaysian authorities have arrested 14 Chinese men for operating a Bitcoin investment scam and violating the Immigration Act. Malaysian police have arrested 14 Chinese men for their involvement in a Bitcoin (BTC), scam targeting investors in their home country. Assistant Commander, Dzulkhairi Mukhatar, stated that the arrests took place on April 18, following two-months of…
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Malaysia-based cryptocurrency trading firm Tokenize Malaysia has received full approval from local securities watchdog. Following a nine-month-long probationary period, Malaysia-based cryptocurrency trading firm, Tokenize Malaysia, has received full approval from local securities watchdog. With the approval to operate a Digital Assets Exchange, the company’s cryptocurrency trading platform, Tokenize Xchange, became legally approved and regulated by…
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The Malaysian Palm Oil Council and BloomBloc have developed a blockchain-based app that enables users to trace palm oil throughout the entire supply chain. The Malaysian Palm Oil Council (MPOC) and blockchain startup BloomBloc have developed a blockchain app that enables users to trace palm oil throughout the entire supply chain. Following a successful test,…
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A day after an investor alert on Initial Exchange Offerings (IEO’s), the US SEC—which has levied severe penalties—the Securities Commission Malaysia (SC) published a regulatory guide on digital token offerings in the country. Following the US SEC’s investor alert against Initial Exchange Offerings (IEO’s), Malaysia’s regulator has published a regulatory guide requiring token offerings in…
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