[2017-10-9] Malaysia’s Central Bank Could Enforce Cryptocurrency Ban

[Forts1946]

As Malaysia’s central bank develops guidelines for cryptocurrencies like bitcoin, a blanket ban is still not out of the question according to its governor.

Bank Negara Malaysia (BNM) governor Muhammad bin Ibrahim was speaking to reporters on the sidelines of the 9th International Conference on Financial Crime and Terrorism Financing in Kuala Lumpur when he spoke about upcoming regulations for the cryptocurrency sector.

As reported by The Malaysian Insight, the central banker did not rule out a complete ban on cryptocurrencies.

He stated:

This (ban on cryptocurrencies is something that we will decide on by the end of the year…The guidelines that BNM is set to announce by the end of the year would reveal the country’s approach to cryptocurrencies.


Source https://www.cryptocoinsnews.com/malaysias-central-bank-enforce-cryptocurrency-ban/

[Karartma1]

We will wait for it then. Another ban bites the dust. Never-ending game this one. As long as there will be bitcoin and crypto currencies we will see and read news like these. Another big good luck to the Malaysian Central Bank to enforce this ban. The only ban that’s possible is on the third-parties.

[satish37]

Chine also tried to adopt this ban policy , but had to revert their plan, this is going to happen in some countries, but the idea behind this cryptocurrrency is so new that it will take time to settle down the dust, I think you must have heard about the story when the first Railway was on track in London no one was willing to travel in it only prisoners.  History repeat itself

[Carlton Banks]

As Malaysia’s central bank develops guidelines for cryptocurrencies like bitcoin, a blanket ban is still not out of the question according to its governor.

A ban is entirely out of the question, the governor couldn't be more wrong


And the title is equally hilariously wrong, the perfect opposite is true: Malaysia’s central bank could not enforce a cryptocurrency ban, it's not feasible for any governments, even if they were to quit pretending they're nice, cuddly megalomaniacs that just want to help you get your life right. They still couldn't enforce a ban.

They can enact a ban. But "enact" and "enforce" are separate words, with separate meanings.

[susila_bai]

Chine also tried to adopt this ban policy , but had to revert their plan, this is going to happen in some countries, but the idea behind this cryptocurrrency is so new that it will take time to settle down the dust, I think you must have heard about the story when the first Railway was on track in London no one was willing to travel in it only prisoners.  History repeat itself

It is so true that this type of tactics are tried to drop down the price of bitcoin and damage the reputation of cryptocurrency but they dont know that the users of bitcoin are very strong and this type of tactics wont work now.