The central bank says digital currencies are not covered by prudential and market conduct standards or arrangements that are applicable to financial institutions regulated by Bank Negara. (File pix by Yazit Razali)

KUALA LUMPUR: Bank Negara Malaysia said it does not authorise or endorse the cryptocurrency platform called Coinzer.

In a statement, the central bank said the use of Bank Negara logo and Jata Negara on the proposed physical coin design, white paper and website https://www.coinzer.co are unauthorised.

“Members of the public are advised to exercise caution and carefully evaluate the risks associated with investment in digital currencies,” it said.

Bank Negara said digital currencies are not legal tender in Malaysia.

Accordingly, digital currencies are not covered by prudential and market conduct standards or arrangements that are applicable to financial institutions regulated by Bank Negara, it said.

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