Ministry explains digital currencies are treated as commodities, can be deemed business income

ALOR SETAR, July 17 — Electricity theft linked to illegal bitcoin mining activities has caused RM4.8 billion in losses from 2018 to June this year, said Deputy Energy Transition and Water Transformation Minister Akmal Nasir.

LONDON, March 25 — BlackRock has launched its first bitcoin exchange-traded product in Europe, in a bid to tap growing demand for cryptocurrency exposure in new markets after attracting more than US$50 billion (RM221.8 billion) into similar products in the United States.

SYDNEY, March 3 — Asian share markets dithered today as the threat of imminent tariffs lurked in the background, while bitcoin surged on news it would be included in a new US strategic reserve of cryptocurrencies.

SINGAPORE/LONDON, Jan 20 — Donald Trump’s newly created cryptocurrency soared today to nearly US$11 billion (RM49.2 billion) in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the US president-elect’s return to the White House.

PARIS, Dec 18 — Bitcoin’s soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap into fresh pockets of wealth and build loyalty with crypto investors.

LONDON, Dec 5 — Bitcoin broke US$100,000 (RM442,749.80) today as investors bet on a friendly US regulatory shift, while world stocks touched fresh record highs with sentiment bolstered by upbeat comments on the economy from Federal Reserve chief Jerome Powell.

LONDON, Nov 11 — Bitcoin soared to a record high above US$82,000 (RM361,620) today on expectations that cryptocurrencies will boom in a favourable regulatory environment following the election of Donald Trump as United States president and of pro-crypto candidates to Congress.

KUALA LUMPUR, Oct 24 — Tenaga Nasional Berhad (TNB) suffered losses of RM441,600,089.90 due to electricity theft for bitcoin mining activities between 2020 and September 2024.

KUALA LUMPUR, July 10 — The country has lost RM3.4 billion from 2018 due to the theft of electricity for cryptocurrency (bitcoin) mining, said Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir.

LOS ANGELES, April 19 — Cryptocurrencies fell heavily and bitcoin broke below $60,000 on Friday in a rush out of risky assets following reports of an Israeli missile strike on Iran.

KUALA LUMPUR, Jan 20 — An illegal Bitcoin mining syndicate was busted by the Immigration Department following the arrest of two Chinese nationals in charge of the operation in Cheras yesterday.

PETALING JAYA, Dec 6 — Subang Jaya police disposed of various case items, involving gambling equipment, bitcoin machines, contraband liquor and cigarettes, worth RM1.24 million.

PUTRAJAYA, July 27 — A company, Mega Auto Energy Industries Sdn Bhd was fined RM20,000 by the Petaling Jaya Sessions Court today, for the theft of electricity for its bitcoin mining activities on June 24.

ISTANBUL, March 30 — The price of Bitcoin jumped Wednesday (March 29) by more than five per cent despite a recent legal crackdown in the US on major cryptocurrency companies, reported Anadolu.

ANKARA, Nov 10 — Bitcoin saw its price dive below US$16,000 (RM75,272) late Wednesday as a major sell-off in the crypto market intensified after Binance backed out of a potential deal to buy its rival FTX, which is in financial turmoil, reported Anadolu Agency.

MELAKA, Oct 4 — Two Bitcoin cryptocurrency miners were fined RM45,000 and RM10,000 each respectively after pleading guilty to bribing Tenaga Nasional Berhad (TNB) agents as an inducement not to take action against them for stealing electricity.

KUALA LUMPUR, March 30 — Police have detained 627 individuals believed to have been involved in electricity theft for bitcoin mining activities from 2020 till now.

SHAH ALAM, Feb 11 — Police seized 135 bitcoin mining rigs in raids on two shophouses in Banting, yesterday on suspicion of electricity theft for Bitcoin mining activities.

KUALA LUMPUR, Jan 24 — The government viewed electricity theft through illegal bitcoin mining activities seriously as it recorded a 400 per cent increase over the past four years, with an estimated loss of more than RM2.3 billion, said Energy and Natural Resources Minister, Datuk Seri Takiyuddin Hassan.