FUD hits Malaysians as Luno holds off deposits and withdrawals.

Imagine holding over a few thousand dollars to a few million Malaysian Ringgit in your exchange account and not being able to take it out into fiat or rather the Malaysian Ringgit. That's how hundreds if not thousands feel as they are restricted from bringing their funds over to their local banks. According to Luno's staff, they are currently suffering a high influx of transactions and are unable to keep up with the number of transactions coming in and out of their bank account.

Imagine waking up one fine morning and then you notice your the price of BTC has corrected a thousand or two and you want to buy some BTC but lo and behold, you can't due to some technical problem that seems to be happening on Luno's side...or is it?

According to an article by the Star, four exchanges are meeting up with the Malaysian authorities. Could this be the reason why Luno is holding off both deposits and withdrawals? Having a high influx of transactions seems like a PR tactic to lessen the FUD. After all, 75 million ringgit worth of transactions isn't a lot when looking at the whole economy, The Go Theory highly doubts that to be the case. After all, if a bank and an exchange find it hard to keep up with that amount of transactions, I would be worried about the liquidity of my investments.

The Go Theory is that Luno is avoiding FUD by not even mentioning that they are in talks with the Malaysian Government, so as to avoid another China FUD case that happened when China started banning ICOs. So far the Malaysian Government has requested the identity of the account holder, wallet addresses owned by the account, amount of crypto in the account and reports of any suspicious activities if any is found. An officer from the Malaysian government will also be appointed to each exchange so that any suspicious activities can be reported to the authorities.