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> Bitcoin and other Cryptocurrencies, Comprehensive guide on first page.

FatalExe
post Jan 14 2019, 05:06 PM

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All cryptocurrency is classified as securities in Malaysia now
ycs
post Jan 14 2019, 05:43 PM

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QUOTE(FatalExe @ Jan 14 2019, 05:06 PM)
All cryptocurrency is classified as securities in Malaysia now
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is that official, from whom?
victorsoo
post Jan 14 2019, 05:56 PM

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QUOTE(ycs @ Jan 14 2019, 05:43 PM)
is that official, from whom?
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https://www.thestar.com.my/business/busines...QDlxsTs_bOkdRs#
shahrul09
post Jan 14 2019, 06:46 PM

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QUOTE(victorsoo @ Jan 14 2019, 05:56 PM)
So now it is illegal to do ICO and having Exchanges w/o approval, good la. Regulate those stupid scam coin.

They have not yet talking about regulations in trading crypto in Malaysia right.

Haih, the future of crypto in Malaysia is abit dark now.
Perhaps crypto tax will come this year.
Hopefully BNM or any bank wont take drastic measure like India.
Threatening to close user Bank Account if they involve in any crypto related trading/transaction

This post has been edited by shahrul09: Jan 14 2019, 07:50 PM
Gss2k
post Jan 14 2019, 07:50 PM

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QUOTE(shahrul09 @ Jan 14 2019, 06:46 PM)
So now it is illegal to do ICO and having Exchanges w/o approval
They have not yet talking about regulations in trading crypto in Malaysia right.

Haih, the future of crypto in Malaysia is abit dark now.
Hopefully BNM or any bank wont take drastic measure like India.
Threatening to close user Bank Account if they involve in any crypto related trading/transaction
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No it is not dark, they just said SC will be in charge of making the law. Pro crypto or anti crypto remains to be seen.
shahrul09
post Jan 14 2019, 07:53 PM

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QUOTE(Gss2k @ Jan 14 2019, 07:50 PM)
No it is not dark, they just said SC will be in charge of making the law. Pro crypto or anti crypto remains to be seen.
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Pro or anti crypto.
For me it is dark, if they decide to regulate crypto and allow trading. Tax will come. Not fun anymore.
If they reject and take drastic measure like REserve bank of india, that is also a dark future ahead.

But regulate ICO etc is a good move. At least they wont allow scammer to bloom rapidly

This post has been edited by shahrul09: Jan 14 2019, 07:54 PM
SkyHermit
post Jan 14 2019, 08:04 PM

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But still no capital gain tax on Crypto right? Only ICO is regulated
shahrul09
post Jan 14 2019, 08:16 PM

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QUOTE(SkyHermit @ Jan 14 2019, 08:04 PM)
But still no capital gain tax on Crypto right? Only ICO is regulated
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Not yet😄🤐
doraemonkiller
post Jan 14 2019, 08:32 PM

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full time trader who trade frequently need to pay tax on profits or no?
shahrul09
post Jan 14 2019, 08:48 PM

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QUOTE(doraemonkiller @ Jan 14 2019, 08:32 PM)
full time trader who trade frequently need to pay tax on profits or no?
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Wait for the regulations announcements. For now nada

This post has been edited by shahrul09: Jan 14 2019, 08:48 PM
budaita
post Jan 15 2019, 12:23 AM

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Enjoy the market pump first
ethereum just went up by 10% in second
monkeyking918
post Jan 15 2019, 10:27 AM

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QUOTE(shahrul09 @ Jan 14 2019, 08:48 PM)
Wait for the regulations announcements. For now nada
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I think this is a "good" news because classification of crypto as security make it following security laws which is regulated by SEC, and since there is no capital gain tax (for now, hopefully LGE wont introduce one next year) on security (aka stocks), it also means crypto no capital gain tax, is this assumption right or wrong? Well, of course unless LGE introduce a special new law on crypto.

And classifying crypto as security imply it is legal??

Guessing only, don't quote me.

Anyone can make more elaboration what is the significance of classifying crypto as security?


blurcase
post Jan 15 2019, 11:06 AM

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I am just thinking aloud, classifying crypto as security is one thing, but as with forex, trading is only legit via on-shore institutions that is regulated by authorities here, and we dont have any legit trading institutions that is registered with SC/BNM/Bursa. So if the new law also applies the same context, then technically trading crypto is still illegal.

Please correct me if I'm wrong.
monkeyking918
post Jan 15 2019, 11:13 AM

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QUOTE(blurcase @ Jan 15 2019, 11:06 AM)
I am just thinking aloud, classifying crypto as security is one thing, but as with forex, trading is only legit via on-shore institutions that is regulated by authorities here, and we dont have any legit trading institutions that is registered with SC/BNM/Bursa. So if the new law also applies the same context, then technically trading crypto is still illegal.

Please correct me if I'm wrong.
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Obviously, like stock, you can't run a stock exchange without SEC approval, anyone doing so will be doing illegal business. Now with crypto as security, it is illegal to run a crypto exchange without SEC approval (and thus LUNO should temporary stop trading for now), but if Luno or other exchanges register with SEC, then trading on a legal crypto exchange is legal, my personal opinion only.

Well, I think LUNO is applying for a license now? Yes/No?

I think trading forex is illegal because there is no legal forex trading exchange in malaysia for retailers. Need to ask BNM for clarification I guess.



This post has been edited by monkeyking918: Jan 15 2019, 11:19 AM
yokoloco
post Jan 15 2019, 11:23 AM

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QUOTE(monkeyking918 @ Jan 15 2019, 11:13 AM)
Obviously, like stock, you can't run a stock exchange without SEC approval, anyone doing so will be doing illegal business. Now with crypto as security, it is illegal to run a crypto exchange without SEC approval (and thus LUNO should temporary stop trading for now), but if Luno or other exchanges register with SEC, then trading on a legal crypto exchange is legal, my personal opinion only.

Well, I think LUNO is applying for a license now? Yes/No?

I think trading forex is illegal because there is no legal forex trading exchange in malaysia for retailers. Need to ask BNM for clarification I guess.
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yeah i think they will just apply for a license and be a SC approved exchange in Malaysia.

edit : yeah, they already put up an update that they are applying for the license.
https://luno.statuspage.io/

This post has been edited by yokoloco: Jan 15 2019, 11:24 AM
jack2
post Jan 15 2019, 02:02 PM

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QUOTE(yokoloco @ Jan 15 2019, 11:23 AM)
yeah i think they will just apply for a license and be a SC approved exchange in Malaysia.

edit : yeah, they already put up an update that they are applying for the license.
https://luno.statuspage.io/
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cool.. I can get the job
Andrew Lim
post Yesterday, 10:10 AM

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Aww... Constantinople upgrade has just been postponed again
https://blog.ethereum.org/2019/01/15/securi...e-postponement/
solstice818
post Yesterday, 03:24 PM

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QUOTE(Andrew Lim @ Jan 16 2019, 10:10 AM)
Aww... Constantinople upgrade has just been postponed again
https://blog.ethereum.org/2019/01/15/securi...e-postponement/
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Hence the dump even before the announcement. Seems like someone knows this and dump at high and buy at low.
blurcase
post Yesterday, 05:52 PM

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https://www.sc.com.my/news/media-releases-a...-digital-assets

http://www.bnm.gov.my/index.php?ch=en_pres...n_press&ac=4783

Coinhako just sent email update saying they are pausing all of their services for Malaysians until further further clarification from authorities have been obtained.

Reading both statements from BNM and SC, any institution wanting to offer trading facilities to retail traders will have to go through their approval.

In my personal view, the shortcut route they will probably take would be to do what they did with forex, which rules that u can only trade through onshore banks and institutions, and since they arent gonna give approval beyond that, end up trading crypto is pretty much gonna be illegal.
FatalExe
post Today, 12:27 PM

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This post has been edited by FatalExe: Today, 12:30 PM

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