Malaysia Discusses Legalizing Bitcoin, Regulatory Obstacles


  • The Malaysian legislature is reportedly being asked to legalize the transfer in bitcoin and other cryptocurrencies.
  • “We are trying to see how we can legalize this so that we can develop the participation of young people in crypto and help them,” said his deputy minister.
  • Regulatory responsibility rests with Bank Negara Malaysia, Malaysia’s central bank, and the Securities Commission, which is currently “assessing the central bank’s digital currency value proposition.”

Malaysian Ministry of Communications and Multimedia (K-KOMM) Deputy Minister Zahidi Zainul Abidin addressed the lower bicameral branch of the Malaysian federal legislature, known as the Dewan Rakyat, to issue a call to action for parliament to of Malaysia adopt cryptocurrencies. such as bitcoin as a legal transfer, according to Bloomberg.