The Central Bank of Malaysia represses the ICO for unauthorized use of its logo

The Central Bank of Malaysia (BNM) has officially declared that it does not approve the Coinzer cryptographic platform and its unlicensed logo on March 11th.

According to BNM's press release, Coinzer used the unauthorized images of the BNM logo and the Malaysian coat of arms on the physical design proposal of the coin, its white paper and its website. The BNM adds that cryptographic investments are risky and are not considered legal tender in Malaysia.

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Responding to the Declaration of BNM, Coinzer announced on their website that they shot down the contentious design on March 7:

"We want to clarify that Coinzer's physique The design of the coin is based on a conceptual design, which is initially intended to be used as a pledge of appreciation for our partners and contributors.This physical coin design proposal has however been removed from our latest edition of Whitepaper … "

Mr. Coinzer's statement continues, explaining his desire to work with the Malaysian government in the crypto and blockchain sphere

Even though the industry is relatively unregulated, " regulators in many them countries, especially Malaysia. Aware that this new technology and financial innovation will not only improve the productivity of economic activities, but will also make the financial intermediation more fluid : "

" Coinzer is working in close collaboration with the Malaysian government and the Competent authorities recognize and approve our operations in Malaysia and help them better understand both Coinzer and the industry: how cryptocurrency platforms like Coinzer work, how Coinzer will help to to build a better economy for Malaysia and how other countries are proposing regulation "

According to the white paper, Coinzer Coin initial offer (ICO) was provided January 1, 2018, initially consisting of a limited private pre-sale and then a public pre-sale, followed by the ICO, which will last one month. Coinzer chips (CZC) are priced at $ 0.05 per chip, with a symbolic ceiling of $ 21 billion.

In November 2017, the governor of BNM issued a statement announcing that the bank would soon publish regulations on cryptocurrency. At the end of February, the bank announced new anti-money laundering legislation that requires that cryptocurrency exchanges in Malaysia verify the identity of their clients. for all trades.