Whither policing cryptocurrency in Malaysia?

Cryptocurrency, like Bitcoin, is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. It is an emerging financial technology enabled by innovation, increasingly popu...

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Main Authors:	Zulhuda, Sonny, Sayuti, Afifah
Format:	Article
Language:	English English
Published:	IIUM Press, International Islamic University Malaysia 2017
Subjects:	HG Finance K Law (General)
Online Access:	http://irep.iium.edu.my/61269/ http://irep.iium.edu.my/61269/ http://irep.iium.edu.my/61269/1/61269_Whither%20Policing%20Cryptocurrency.pdf http://irep.iium.edu.my/61269/7/61269_wither%20policing%20cryptocurrency_WOS.pdf

id	iium-61269
recordtype	eprints
spelling	iium-612692019-08-20T18:29:51Z http://irep.iium.edu.my/61269/ Whither policing cryptocurrency in Malaysia? Zulhuda, Sonny Sayuti, Afifah HG Finance K Law (General) Cryptocurrency, like Bitcoin, is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. It is an emerging financial technology enabled by innovation, increasingly popular among global Internet users, and more interestingly, it challenges the existing financial and regulatory rules on the currency and payment systems of the world today. On the other side, certain cryptocurrency like Bitcoin, have been actively used as payment tools for illicit transactions. Both the “promising” and "challenging" faces of cryptocurrency trigger causes for concern for policy makers, not only from financial sector, but also legal and technological sectors. The decentralised nature of cryptocurrency creates unique problems for the government to regulate or impose any regulatory requirements. This article argues that, in order for Malaysia to remain at the forefront of financial and digital innovation, it is timely to look at the question on whether to formulate certain policy and regulatory framework on the use of cryptocurrency in Malaysian market. The answer can pave the way for Malaysian digital citizens to potentially grab the opportunities made possible by the cryptocurrency technology. For this purpose, the researchers seek to study the features of cryptocurrency and the experiences from policymakers in other jurisdictions in dealing with the matter. IIUM Press, International Islamic University Malaysia 2017-12-31 Article PeerReviewed application/pdf en http://irep.iium.edu.my/61269/1/61269_Whither%20Policing%20Cryptocurrency.pdf application/pdf en http://irep.iium.edu.my/61269/7/61269_wither%20policing%20cryptocurrency_WOS.pdf Zulhuda, Sonny and Sayuti, Afifah (2017) Whither policing cryptocurrency in Malaysia? IIUM Law Journal, 25 (2). pp. 179-196. ISSN 0128-2530 E-ISSN 2289-7852 http://journals.iium.edu.my/iiumlj/index.php/iiumlj/article/view/342
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HG Finance K Law (General)
spellingShingle	HG Finance K Law (General) Zulhuda, Sonny Sayuti, Afifah Whither policing cryptocurrency in Malaysia?
description	Cryptocurrency, like Bitcoin, is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. It is an emerging financial technology enabled by innovation, increasingly popular among global Internet users, and more interestingly, it challenges the existing financial and regulatory rules on the currency and payment systems of the world today. On the other side, certain cryptocurrency like Bitcoin, have been actively used as payment tools for illicit transactions. Both the “promising” and "challenging" faces of cryptocurrency trigger causes for concern for policy makers, not only from financial sector, but also legal and technological sectors. The decentralised nature of cryptocurrency creates unique problems for the government to regulate or impose any regulatory requirements. This article argues that, in order for Malaysia to remain at the forefront of financial and digital innovation, it is timely to look at the question on whether to formulate certain policy and regulatory framework on the use of cryptocurrency in Malaysian market. The answer can pave the way for Malaysian digital citizens to potentially grab the opportunities made possible by the cryptocurrency technology. For this purpose, the researchers seek to study the features of cryptocurrency and the experiences from policymakers in other jurisdictions in dealing with the matter.
format	Article
author	Zulhuda, Sonny Sayuti, Afifah
author_facet	Zulhuda, Sonny Sayuti, Afifah
author_sort	Zulhuda, Sonny
title	Whither policing cryptocurrency in Malaysia?
title_short	Whither policing cryptocurrency in Malaysia?
title_full	Whither policing cryptocurrency in Malaysia?
title_fullStr	Whither policing cryptocurrency in Malaysia?
title_full_unstemmed	Whither policing cryptocurrency in Malaysia?
title_sort	whither policing cryptocurrency in malaysia?
publisher	IIUM Press, International Islamic University Malaysia
publishDate	2017
url	http://irep.iium.edu.my/61269/ http://irep.iium.edu.my/61269/ http://irep.iium.edu.my/61269/1/61269_Whither%20Policing%20Cryptocurrency.pdf http://irep.iium.edu.my/61269/7/61269_wither%20policing%20cryptocurrency_WOS.pdf
first_indexed	2023-09-18T21:26:53Z
last_indexed	2023-09-18T21:26:53Z
_version_	1777412251265794048

Whither policing cryptocurrency in Malaysia?

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