Malaysia's Internal Revenue Service (IRB) has conducted an Ops Token operation to combat the diversion of tax revenue from cryptocurrency trading. This is reported by local media.
The raids on 10 different locations in the Klang Valley involved 38 members of the Royal Police and the country's Cybersecurity Service. Companies that did not report to the IRB on their digital asset-related activities came to their attention.
During the raids, authorities found data on cryptocurrency trading on mobile devices and computers, indicating "a significant leak in tax revenues." The IRB will have to analyze the information received to determine the exact amount of damage.
Datuk Abu Tariq Jamaluddin, head of the Department, warned crypto traders about the need to file declarations to avoid sanctions.
The raids on 10 different locations in the Klang Valley involved 38 members of the Royal Police and the country's Cybersecurity Service. Companies that did not report to the IRB on their digital asset-related activities came to their attention.
During the raids, authorities found data on cryptocurrency trading on mobile devices and computers, indicating "a significant leak in tax revenues." The IRB will have to analyze the information received to determine the exact amount of damage.
Datuk Abu Tariq Jamaluddin, head of the Department, warned crypto traders about the need to file declarations to avoid sanctions.
