Fintech and New Media Malaysia

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralised networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that central authorities generally do not issue them, rendering them theoretically immune to government interference or manipulation. Lately, many types of cryptocurrencies have been making headlines on the news. This is because of their increasing prices which are making tons of investors happy. However, it is not very popular in Malaysia and many people still do not have a clear idea of what it is. If you are interested to buy Bitcoin or crypto in Malaysia, here are the ways to do so. Buy Bitcoin or cryptocurrency in Malaysia 2021 1.  Compare cryptocurrency exchanges . The easiest way to buy Bitcoin is from a crypto broker or exchange. Comparing exc...

One of the best (and worst) things about bitcoin, blockchain and cryptocurrencies is just how new the technology and its practical implementations are. Even though there have been many early adapters, the ecosystem as a whole involves a lot of learning, especially for those looking to come up to speed. This represents a massive opportunity as well as a pitfall for those who are on the outside looking in. I like to monitor different courses in the space for my own education as well as for resources to share with others to include them as part of the discussion and learning: I've compiled this list as a set of reliable resources to do just that. 1- DFIN 511: Introduction to Digital Currencies (Offered By UNIC) This free online course is taught by  Andreas Antonopoulos (author of Mastering Bitcoin) and Antonis Polemitis and it represents the first course in the  MSc in Digital Currency offered by UNIC. The course places bitcoin and cryptocurrencies in the broader framework of the...

Despite the growth of cryptocurrencies around the world, the digital assets investment is still low among Muslim countries including Malaysia, as people are wary of its compliance with the Islamic law. Securities Commission Malaysia (SC) Shariah Advisory Council chairman Datuk Dr Daud Bakar said investors and people in the country need more time to understand cryptocurrency from the Shariah perspective. Pic by Bloomberg This comes after the council, in July, advised that it is permissible for Muslim to invest and trade cryptocurrencies on registered crypto exchanges. Daud said as cryptocurrency is not regarded as a legal tender, it is a legit commodity that can be exchanged within the market, as long as it is not backed by “ribawi items” like gold and silver — which are generally used as currency to measure value of items for sale and purchase. “It is a medium of exchange, and we cannot stop people to use commodities as medium of exchange. It is as good as buying an e-ticket or commodi...

Following the coming into force of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 on 15 January 2019, and the subsequent issuance of the revised Guidelines on Recognized Markets on 31 January 2019 to introduce new requirements for DAX operators, the SC has now registered three Recognized Market Operators (RMOs) to establish and operate digital asset exchanges in Malaysia. Entities which have not been approved by the SC, including those which have previously been operating under the transitional period, are required to cease all activities immediately and return all monies and assets collected from investors. These lists will regularly be updated and members of the public are encouraged to refer to these lists when dealing with digital asset exchanges. (Updated list as of 5 May 2021) 1. Luno Malaysia Sdn. Bhd. Level 11, Menara KEN TTDI, No. 37, Jalan Burhanuddin Helmi, Taman Tun Dr Ismail, 60000 Kuala Lumpur 2. SINEGY Techno...