The Securities Commission of Malaysia (SC) has today issued a caution to the public against the usage of Crypto Automatic Teller Machines (Crypto ATMs). In a nutshell, a crypto ATM is a machine that allows individuals to buy and/or sell digital assets via cash, debit/credit cards or e wallets. These ATMs are found in various locations throughout Malaysia.
The SC has informed that entities operating Crypto ATMs are considered to be operating a Digital Asset Exchange (DAX) which require registration with the SC and the SC has not authorized any entity to operate Crypto ATMs.
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