Cryptocurrency and cybercrime – the need to strengthen the legal framework

This paper explores the legal and regulatory challenges for digital and virtual currency in Malaysia, with special focus on cryptocurrency like Bitcoin. The emphasis is on cybercrime and consumer protection. Since very few countries have adequate legislation to regulate virtual currency, it has been...

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Main Authors:	Puniran, Mohd Noor Ikram, Zul Kepli, Mohd Yazid
Format:	Conference or Workshop Item
Language:	English
Published:	Universiti Malaysia Terengganu 2018
Subjects:	K Law (General)
Online Access:	http://irep.iium.edu.my/70715/ http://irep.iium.edu.my/70715/1/70715_Cryptocurrency%20and%20cybercrime_complete.pdf

id	iium-70715
recordtype	eprints
spelling	iium-707152019-03-05T04:07:29Z http://irep.iium.edu.my/70715/ Cryptocurrency and cybercrime – the need to strengthen the legal framework Puniran, Mohd Noor Ikram Zul Kepli, Mohd Yazid K Law (General) This paper explores the legal and regulatory challenges for digital and virtual currency in Malaysia, with special focus on cryptocurrency like Bitcoin. The emphasis is on cybercrime and consumer protection. Since very few countries have adequate legislation to regulate virtual currency, it has been widely exploited by scammers and syndicates for money laundering, hacking, terrorism financing, fraud, and other illegal purposes. This paper is mostly library based with newspaper reports, established books and articles being the main references. This paper also benefited from interviews with experts. This paper stresses that it is crucial to have a clear legal standard for the licensing, control and management of cryptocurrency exchanger in particular and cryptocurrency in general. The legal standard can be achieved by adopting the best practices from other countries including Japan, United States, and South Korea. The article also proposes ways to properly adapt cryptocurrency safely into our daily life and how we should take advantage of it. Universiti Malaysia Terengganu 2018-12 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/70715/1/70715_Cryptocurrency%20and%20cybercrime_complete.pdf Puniran, Mohd Noor Ikram and Zul Kepli, Mohd Yazid (2018) Cryptocurrency and cybercrime – the need to strengthen the legal framework. In: The 8th International Conference on Postgraduate Education 2018, 3 - 4 December 2018, Universiti Malaysia Terengganu, Kuala Terengganu Malaysia.. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General)
spellingShingle	K Law (General) Puniran, Mohd Noor Ikram Zul Kepli, Mohd Yazid Cryptocurrency and cybercrime – the need to strengthen the legal framework
description	This paper explores the legal and regulatory challenges for digital and virtual currency in Malaysia, with special focus on cryptocurrency like Bitcoin. The emphasis is on cybercrime and consumer protection. Since very few countries have adequate legislation to regulate virtual currency, it has been widely exploited by scammers and syndicates for money laundering, hacking, terrorism financing, fraud, and other illegal purposes. This paper is mostly library based with newspaper reports, established books and articles being the main references. This paper also benefited from interviews with experts. This paper stresses that it is crucial to have a clear legal standard for the licensing, control and management of cryptocurrency exchanger in particular and cryptocurrency in general. The legal standard can be achieved by adopting the best practices from other countries including Japan, United States, and South Korea. The article also proposes ways to properly adapt cryptocurrency safely into our daily life and how we should take advantage of it.
format	Conference or Workshop Item
author	Puniran, Mohd Noor Ikram Zul Kepli, Mohd Yazid
author_facet	Puniran, Mohd Noor Ikram Zul Kepli, Mohd Yazid
author_sort	Puniran, Mohd Noor Ikram
title	Cryptocurrency and cybercrime – the need to strengthen the legal framework
title_short	Cryptocurrency and cybercrime – the need to strengthen the legal framework
title_full	Cryptocurrency and cybercrime – the need to strengthen the legal framework
title_fullStr	Cryptocurrency and cybercrime – the need to strengthen the legal framework
title_full_unstemmed	Cryptocurrency and cybercrime – the need to strengthen the legal framework
title_sort	cryptocurrency and cybercrime – the need to strengthen the legal framework
publisher	Universiti Malaysia Terengganu
publishDate	2018
url	http://irep.iium.edu.my/70715/ http://irep.iium.edu.my/70715/1/70715_Cryptocurrency%20and%20cybercrime_complete.pdf
first_indexed	2023-09-18T21:40:23Z
last_indexed	2023-09-18T21:40:23Z
_version_	1777413100851429376

Cryptocurrency and cybercrime – the need to strengthen the legal framework

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