The Malaysian Internal Revenue Service (IRB) conducted a special operation "Ops Token" to combat the leakage of tax revenues from cryptocurrency trading. 🚔 38 police officers and CyberSecurity Malaysia searched 10 different locations in the Klang Valley. The operation targeted companies that did not report their cryptocurrency trading activities.

Authorities say some limited partnerships and corporate entities were created to trade cryptocurrencies and evade taxes.

The IRB warns traders about the need to declare taxes on cryptocurrency. In Malaysia, cryptocurrency is considered legal and is regulated by the Securities Commission.