Malaysia calls for legalizing cryptocurrency and NFT

Home / Malaysia calls for legalizing cryptocurrency and NFT

Deputy Minister of Communications and Multimedia Datuk Zahidi Zainul Abidin called on Malaysian regulators to legalize certain uses of cryptocurrency and NFT.
Zahidi said such measures would greatly support young people as the cryptocurrency industry is becoming increasingly popular among the younger generation.
He also added that the decision to regulate cryptocurrency is left to Malaysia’s financial regulators, including the central bank and the Securities Commission.

Nevertheless, the ministry is ready to raise the issue at the state level.
According to some sources, Zahidi proposed not just to legalize certain cryptocurrency transactions in Malaysia, but to accept cryptocurrency as legal tender.

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