Malaysia Securities Commission warns against cryptocurrency ATMs

According to Bernam, the Securities Commission of Malaysia (SC) today warned the public against using cryptocurrency ATMs. In a statement today, SC described crypto ATMs as devices that allow people to buy and sell digital assets with cash, debit card, credit or e-wallet. Installed in many parts of Malaysia, these systems can convert a wide range of digital devices to fiat and recyclable. "The SC would like to inform the public that Cryptocurrency Transaction ATMs have been decided to operate the Digital Asset Exchange (DAX), which must be registered with the SC. In this regard, the SC is not of agreement "All ATMs in Malaysia have been warned not to work immediately. It is illegal to mine the DAX without a permit,” he said. regulated by SC under Malaysian Securities Law.