Malaysia partnered with Zetrix and MIMOS Technology to develop the blockchain infrastructure that will be open to all levels of the government and commercial sector.
Digital currency exchange Huobi Global faces new regulatory hurdle as it attempts to iron out lapses in its operation in Malaysia after being put under the Investor Alert list over its alleged lack of permit.
When it comes to passion for IPv6 technology, there are perhaps few people who can match up to Sureswaran Ramadass, chairman of the IPv6 Forum in Malaysia and professor emeritus at the Malaysia University of Science and Technology.
The Deputy Minister for Communications told parliament that the ministry has proposed making digital currencies legal tender and hopes the gov’t agrees.
The reserve banks in each country have teamed up to trial a new platform for enabling cross-border transfers denominated in a central bank digital currency.
U.S. authorities are likely updating their imminent indictments against top execs at the troubled Binance cryptocurrency exchange after a report exposed local traders accessing forbidden crypto fruit.
The two allegedly lured three women to invest in their BTC scheme for guaranteed returns over a seven-month period, according to reports.
The China Construction Bank had postponed the trading of the bond at first before eventually withdrawing it.
The Securities Commission of Malaysia said the move was designed to support “responsible innovation in the digital asset space.”
Tenaga Nasional Berhad, Malaysia’s national power company, raided the miners’ premises in the southern state of Johor, local newspaper The Star reports. In the raid, conducted jointly with the state police and the Energy Commission, the authorities found that the miners had made illegal power connections that bypassed the meter, allowing them to access the power for free.
The power company had incurred RM80,000 ($19,300) in losses per month from the installation, the Energy Commission’s regional director Nazlin Sadikhi told the newspaper. In one of the premises, the miners had been running 100 mining rigs for three years nonstop, she claimed. In the second, 48 rigs had been running for around two years.
Despite the extensive mining activities, the two premises had only been paying between $7 and $14 a month for power costs.
The culprits are looking at 10 years in jail, a RM 1 million ($240,000) fine, or both.
Sadikhi cautioned property owners to be on the lookout for such illegal activities on their properties and to report immediately any suspicious activities. She said, “In most cases, the owners of the premises were in cahoots with the cryptocurrency mining operators. They have similar operation methods where they have illegal wiring installed to the mining machines to illegally draw electricity supply.”
Illegal power connections by block reward miners have spiked in the past three years in Malaysia. According to the national power company, 90 premises have been raided this year, bringing the total to 288 raids since 2018. There have also been 50 raids conducted by Serawak Energy Berhad, a regional power company, in the past two years.
As CoinGeek reported, authorities arrested five block reward miners in August in connect with yet another instance of power theft. The culprits had reportedly stolen $59,000 worth of electricity every month to power their equipment." title="2 block reward miners arrested in Malaysia over $600K electricity theft" />
Power theft in Malaysia by alleged block reward miners continues to be a big challenge for the country’s authorities.
The three-day event will bring together stakeholders, regulators and innovators to chart the future of financial technology in the Islamic world.