Luno exchange bank account frozen by Malaysian tax authorities
London-based cryptocurrency exchange Luno has reported problems with the Malaysian tax service. Writes about it Bitcoin.com.
On January 13, the Malaysian Internal Revenue Service (IRB) froze an exchange account at a local bank.
“IRB has requested information from us about all Malaysian clients: personal data, deposits / withdrawals and transactions,” explains Luno. “We are in talks with IRB to narrow the parameters of this large request.”.
Luno was founded in 2013 and provides its services in countries such as Nigeria, South Africa, Malaysia, Great Britain, as well as in a number of European countries.
Malaysian Luno Users Still Have The Ability To Exchange Bitcoin And Ethereum For The National Fiat Currency Ringgit.
“All your funds in local and digital currencies are safe, and access to services is fully provided,” the company says, adding that its customers are required to pay their own taxes..
Luno’s troubles arose shortly after Malaysia’s central bank published a cryptocurrency regulation bill that sets out a number of requirements for companies operating in the region and citizens of the country..
“We remind you that digital currencies are not legal tender in Malaysia,” the bank said..
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