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Malaysia explores the possibility of a crypto policy
In a significant move, Malaysian Prime Minister Anwar Ibrahim has announced that his government is creating a draft policy to govern cryptocurrencies within the country. This development comes at a time when the global cryptocurrency market is witnessing unprecedented growth and adoption.
According to reports, the prime minister hinted that Malaysia may eventually adopt cryptocurrencies and blockchain technology in its financial system. He emphasized that the digital evolution taking place worldwide demands that the government keeps pace with these developments. Ibrahim noted that abandoning the old business model and adopting a new digital finance policy are essential for the country’s progress.
During his speech, the prime minister highlighted the need for the Malaysian authorities to conduct further comprehensive studies on the issues that may arise once the policy is in place. He emphasized the importance of training relevant officials to develop competency and engage players in the implementation process.
The announcement comes just weeks after the Malaysian Securities Commission (MSC) ordered Bybit to cease operations in the country due to allegations of running an unregistered digital asset exchange. The agency also added Atomic Wallet to its investor alert list, restricting it from operating in the state.
It remains unclear what specific measures will be included in this new policy, but the development marks a significant shift in Malaysia’s stance on cryptocurrencies. The country has been slow to regulate the crypto space, and this announcement could potentially pave the way for greater adoption and use of digital currencies within its borders.
The prime minister’s comments have sparked interest among local cryptocurrency enthusiasts and investors, who are eager to see what the government’s policy will entail.
Source: www.cryptonewsz.com
