go to luno, access the menu > transactions > select your transfer transaction > click cancel

for transfer to remitano you need to register, go to remitano btc/eth wallet, select deposit

copy the address

go to luno, select send btc/eth from your wallet

paste the address

We're a company called SINEGY, website is still underway but you can check us out at www.sinegy.com or https://www.facebook.com/sinegydotcom/ for our pre-launch activities. We're in contact with BNM and SC towards a regulated environment, meaning stringent KYC protocols etc.

thank you, looking forward to it and how the regulated environment is going to work

Tentatively the exposure draft by BNM (by the way its not a confirmed regulatory framework yet) covers more on developing a Know Your Customer process flow. So as an exchange (whether OTC or trading platform) we'll have to collect full particulars of our customers much like every other exchange. As a reporting entity we also have to submit reports on the digital currencies we offer, the fiat pairings, estimated volume and transactions from time to time.

Yes BNM has been consulted and is aware of our company. We're launching 2 services related to the exchange: a marketplace (like Coinbase, CoinHako) and a trading platform (Luno, Gdax etc..)

One of the reasons for the proposed 5k min. deposit is to create a barrier of entry which helps us to streamline our operations, to simply put, it's more worthwhile to manage high value transactions that low value transactions which require the same amount of work. For small value transactions, there will always be the p2p platforms like LocalBitcoins and Remitano.

Also, the key issue isn't with BNM, commercial banks are more reluctant about adopting crypto than BNM. They do not appreciate their services are being used as a gateway, banks like money staying in with them.

Hi everyone,

Kimberly from Luno here.

I just wanted to clear up a couple of things. Firstly, I notice that there is some confusion as to why Bitcoin or Ethereum trades at a different rate on Luno’s exchange versus other exchanges worldwide. Please note that there is no global price for bitcoin or any other digital currency, and this is actually set by the users on the exchange. You can read more about that here: https://www.luno.com/blog/en/post/runaway-markets

Secondly, we are planning to open an office in Malaysia. We’re growing fast in the region, you can see the positions that are currently available here: https://www.luno.com/en/careers. We’re planning on adding more in the near future.

Lastly, please note we are working very hard to resolve the issue we are having with the banks. We love our Malaysian customers and are excited to get things moving again. Until this is resolved, you can still buy, sell, send and receive digital currencies as usual. Know that all your funds, local and digital currencies, remain safe at Luno. All other services remain unaffected. Keep and eye on our status page for the time being: luno.statuspage.io

If you have any issues, please contact support@luno.com and we will help you as soon as possible. We really appreciate your support and understanding during this time.

To the moon!
Best regards, Kimberly

This post has been edited by KimberlyfromLuno: Jan 15 2018, 07:48 PM

any ETA for things get back to normal ....?

Unfortunately, we don't have an ETA right now, it will be communicated as soon as we know. Always happy to help

too bad. the longer it take, the more customers you are losing...

Hi kimberly, thanks for taking the time to explain to us here on the forum

If you dont mind, Would like to ask you, do you or luno know anything we dont regarding crypto capital gains tax here in malaysia?

As pointed out by some forum members:
1. Msian gov mentioned it was not planning to regulate (hence i assume also tax) cryptocurrencies
2. Msian tax laws are territorial. Meaning income (including capital gains) derived from outside malaysia are excempt from tax in malaysia

And yet, luno in their status page, advises us to adhere to malaysian tax requirements and declare accordingly. While we are quite sure there are no such regulations or requirements . Are we missing something? Appreciate your advice. Thanks.

Hi, thanks for your query. While BNM has recently addressed regulation related to cryptocurrencies, including the release of reporting requirements that exchanges must adhere to, taxation is a separate issue. Luno cannot comment or provide specific advice on the tax requirements applicable to customers in particular countries, but we do reiterate that all of our customers globally should make themselves aware of, and where necessary adhere to, their local tax laws. In case customers are unsure of their obligations, they should seek advice from a financial or tax adviser.

how to prove its derived from outside malaysia
how do I know cryto is capital gains

This post has been edited by cxjiek: Jan 15 2018, 09:59 PM

I don't think we can blame Luno or their staff for the withdrawals issue. I'm sure Luno also wants the situation resolved since they are losing Malaysian customers. The situation depends mostly on how fast and willing IRB/BNM/Maybank are willing to unfreeze the accounts. Governments all around the world are trying to control or limit what exchanges can do. They also definitely want to invade our privacy in order to see who buys crypto.

how to you define as derived outside of malaysia. im interested in it.

Can we deposit/withdraw rm now?
The luno apps now is asking me to deposit money to make my first transaction.

Does that mean the freeze has been lifted?

hi Kimberly, thanks for making the time to respond here. Some questions:

1. Will Luno consider adding ETH/MYR to the exchange as a trading pair ?
2. Will Luno consider adding more coins other than BTC and ETH ?
3. Will Luno add stop loss orders to the exchange ?
4. Will Luno add other bank accounts, other than Maybank, so for example any deposit/withdrawal from CIMB to CIMB will not incur any fees.

Thanks!

On my app also.. still waiting for somebody to vouch for this...

hi Kimberly, where will be the malaysia office located?

After the news of Luno being investigated by LHDN. I've tried to get help from Luno but no replies all this while. I've just did a withdrawal from the app and hope that I will get my withdrawal to bank account soon.

Can anyone confirm we can withdraw from Luno?

Now can you start to unblock people that you have blocked on social media just because they were very critical of your silence over the past one month? No point talking how much you love your Malaysian customers when such faux pas exist in your PR. Come back to earth and be humble. Cheers