Similar to countries like Indonesia, Malaysia has not banned crypto trading but the government doesn’t want to adopt crypto for payments.
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Category: Malaysia
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Malaysian Ministry Proposes Legalizing NFTs to Boost Participation in Crypto Sector
Malaysia’s communications ministry has proposed legalizing non-fungible tokens (NFTs) to increase the participation of young people in the cryptocurrency space. The crypto sector is under the purview of the central bank, Bank Negara Malaysia, and the Securities Commission. Malaysian Ministry Wants NFTs Legalized Malaysia’s Ministry of Communications and Multimedia has proposed legalizing non-fungible tokens (NFTs) […]Powered by WPeMatico
Malaysian comms official calls the state to legalize crypto and NFTs
Malaysia’s finance minister previously warned that crypto payments were illegal as they did not meet the universal characteristics of money.
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Malaysia’s Deputy Finance Minister: Crypto Not Suitable as Means of Payment or Store of Value
Malaysia’s deputy finance minister says that cryptocurrencies, such as bitcoin and ethereum, are not suitable as a means of payment or a store of value. While digital assets are not recognized as legal tender in Malaysia, the finance ministry official said that they are an asset class that can be invested in. Deputy Finance Minister […]Powered by WPeMatico
Binance back in Malaysia via a strategic stake in regulated digital exchange
Binance has forged an array of new partnerships with regulated firms, especially in countries where it has found it difficult to get regulatory approval.
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Malaysia’s Central Bank actively assessing CBDC options
Malaysia’s central bank recently completed a proof-of-concept for a CBDC with three other nations and may consider developing its own cross-border payment system using the blockchain.
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Malaysia Seizes 1,720 Bitcoin Mining Machines in Electricity Theft Crackdown
Police in Malaysia have shut down a bitcoin mining operation and seized 1,720 bitcoin mining machines in a major electricity theft crackdown following public complaints. “Police inspected 75 premises around the district and 30 of them were found to be carrying out illegal bitcoin mining activities and stealing electricity.” Malaysian Authorities Shut Down Bitcoin Mining […]Powered by WPeMatico
Geographic Distribution Data Shows US Takes Leading Bitcoin Mining Position After China’s Crackdown
After China has reigned for a number of consecutive years as the dominant bitcoin mining epicenter of the world, the United States has “taken the leading position in bitcoin mining,” according to new data from Cambridge University. Data Shows US, Kazakhstan, Russian Federation Rule the Bitcoin Mining Roost In mid-July, researchers from the Cambridge Bitcoin […]Powered by WPeMatico
Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments
The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With […]Powered by WPeMatico
Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot
The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies.
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