Malaysian Deputy Finance Minister Mohd Shahar Abdullah said that Malaysia is not considering recognizing cryptocurrencies as legal tender and that the central bank is considering digital central bank money (CBDC).
BNN Bloomberg‘of March 24 Malaysian Deputy Minister of Finance Mohd Shahar Thursday during his speech in parliament Malaysia has no intention of recognizing cryptocurrencies as legal tender. told.
Cryptocurrencies such as Bitcoin are not suitable for use as a means of payment due to various limitations such as price fluctuations and exposure to cyber threats.
deputy minister Mohd Shahar In addition, the developing technology and payment environment, the country’s central bank Bank Negara Malaysiato encourages CBDCs to consider expressed.
The growing technology and payment landscape has encouraged Bank Negara Malaysia to actively evaluate the potential of digital central bank money (CBDC).
Earlier this week, Malaysian Deputy Minister of Communications and Multimedia Datuk Zahidi Zainul Abidingovernment during his speech in parliament legalize certain use cases of cryptocurrencies such as Bitcoin to enhance and assist youth participation in the crypto space. had called.
Malaysian Ministry of Communications Calls on Government to “Legalize” Cryptocurrencies Like Bitcoin (BTC)
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