Digital currency transactions in Malaysia

1. Generally, the ranking is not reliable for two reasons:

1. Trading volume. Bitwise and Bti reports show that most of the trading volume of the head exchanges is water injection or "washing volume". Domestic exchanges are more serious, and even some exchanges have washing volume as high as 90%. Specifically, I don't guide public opinion and have no interests. You can search by yourself according to the above keywords. There are a lot of news< 2. Advertising strategy of ranking platform. At first glance, you may feel fair and beautiful, but where you don't easily pay attention, the operation of these platforms is very sneaky. For example, if you look at the second page of some ranking platforms (because you only pay attention to the first page, and the second page will not turn), all kinds of ghosts and ghosts are on it, and the weak trading volume is also on it. It's a shop bully. So we still have to clean our eyes

how to choose? Move back the priority of trading volume in your mind, and see what negative comments the exchange has, what controversial currencies are on it, and what functions you want to try. Just sort them out by yourself.

2. Non small, you can check the digital currency and the exchange

3. At present, the most influential one is the United States. In addition, Estonia and Australia can handle it. Fire coin and OK can handle the United States MSB license. The processing time is four to eight weeks. The first condition is to register the local company first. The MSB license is issued by the U.S. Department of Finance and can be found on the website

4. To say whether the trading platform is reliable or not, it mainly depends on whether the platform is stable or not. After all, the mode of virtual currency trading is bullish or bearish. A little fluctuation in the market may be an opportunity for trading, and the accuracy of the data and the speed of trading are very important. Many people say that the transaction speed of realm kingdom can be completed within 0.1 seconds. The landlord might as well go to find out whether it is true.

5.

Bank of Malaysia: it does not recognize or prohibit the public from deciding on the future of virtual currency

the president of the National Bank of Malaysia, dansri Muhammad Ibrahim, said that the concept document of cryptocurrency will be finalized this month, and the future of the virtual currency will be decided by the public

he mentioned that Malaysia's response is slightly different from that of some countries that have decided to ban cryptocurrency. Malaysia will not ban cryptocurrency at present, but let the market decide the future of cryptocurrency. The key is that our country must understand what is inside it

however, on September 28, Dato Mohamad zabidi bin Ahmad, senior director and global head of CIMB, Malaysia's second largest bank, attended the launching ceremony of an exchange called "urcoin" and publicly expressed the bank's support for it

It can be seen from this that although Malaysia does not affirm digital currency as its legal tender, it has selected some projects to support it, observe its development and prepare for the future legislation

6. These so-called imported digital currencies are generally unreliable. They are mainly promoted by the marketing mode. In fact, they have no value. The so-called concept of their publicity does not exist. There is no technical support. It is just a digital game. And these coins will often play under the banner of an international or a company to cheat
it is suggested to pay more attention to the mainstream digital currencies such as bitcoin, Ruitai coin, Laite coin and vitality coin.

7. Malaysia MBA has long been proved to be an international pyramid scheme. I've seen relevant news reports before. Users can query by themselves. It is recommended to stay away from it. If you don't understand digital currency, you should stay away from it. If you are interested, you should pay attention to some valuable digital currencies. For example, bitcoin, dogcoin, decent
needless to say, bitcoin has been widely recognized and accepted in the world. Dog Coin focuses on small rewards and charitable donations; Decent is a distributed content publishing platform based on blockchain technology.

8.

Compliance is the general trend of the development of the digital currency instry. Although the supervision of digital currency in various countries is becoming more and more mature and strict, it is good for the long-term development of the instry. Only by providing a qualified and standardized market for digital currency can the instry develop healthily and the participants can enter on a large scale, In addition to a developed country taking the lead in the standardized development of digital currency, a number of minority countries and archipelagos are also following. They are actively using digital currency to upgrade and transform the original economic system, and are standing out on the road to the future of blockchain era

Malaysia updated its legal framework in 2018 and adopted cryptocurrency regulatory rules,. According to them, exchanges, exchanges and organizations that convert non statutory funds are referred to as "reporting agents.". Control in this area is vested in the National Central Bank (the National Bank of Malaysia) and the Securities Commission, the main regulator. It must regulate relationships within the ICO framework and issue licenses for the exchange of cryptocurrency

The change of digital money market is not only influenced by its own growing mature factors, but also by national policies. Looking around the world, countries have different policies on digital money, ICO and exchanges, but also have different regulatory attitudes towards digital money, It also directly determines the settlement choice, survival and development of blockchain project parties and enterprises related to digital assets, and whether the assets of digital currency holders are protected by law

9. Southeast Asia, including Kuala Lumpur, Malaysia, many fraud cases and platforms, it is recommended to pay attention to safety, beware of being cheated!