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MOU to explore security measures behind cryptocurrencies, digital asset exchanges

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CYBERJAYA: CyberSecurity Malaysia has entered into an agreement with MX Global Sdn Bhd to explore security measures needed behind cryptocurrencies and digital asset exchanges.

CyberSecurity Malaysia chief executive officer Datuk Dr Amirudin Abdul Wahab said the memorandum of understanding (MOU) signed by both parties on Tuesday is to establish a general framework for cooperation in the areas of the technology behind cryptocurrencies and digital asset exchanges.

These include collaboration in research and development, joint solution development activities, and conducting training and awareness programmes related to cybersecurity, cryptocurrencies, and digital asset exchanges in Malaysia, he said.

“The interest in cryptocurrencies is growing and the hype resulted in an increase in cyber-criminal attacks on various cryptocurrency exchanges,” said Amirudin, who signed the MOU on behalf of CyberSecurity Malaysia, while MX Global was represented by its CEO, Datuk Fadzli Shah Anuar.

MX Global is a Kuala Lumpur-based fintech company with a mission to create a highly accessible and secure cryptocurrency trading platform that allows merchants, consumers, and traders to transact cryptocurrencies.

It is one of the recognised market operators-digital asset exchanges that have been granted full approval by the Securities Commission Malaysia.

Amirudin said the MOU is valid for two years and during that period, both parties will develop the areas identified by CyberSecurity Malaysia’s cryptocurrency department, focusing on blockchain technology.

Source : The Edge Markets

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