$ 103,790.6
$ 2,633.27
$ 0.8071
$ 653.70
$ 177.92
Mar 21, 2022
Malaysian Ministry Propose Adoption of Crypto as a Legal Tender
Table of contents
The Malaysian Ministry of Communications and Multimedia proposed the idea of the adoption of digital currencies, also widely known as cryptocurrencies, as legal tender. This decision was put forth concerning the youth who have been active users in the field of digital assets.
Earlier today, the co-founder and CEO of the hedge fund, Three Arrows Capital Ltd., Zhu Su shared on Twitter about the proposal by the ministry.
The Proposal
Datuk Zahidi Zainul Abidin, the Deputy Communications and Multimedia Minister claimed that cryptocurrencies have been termed as the future of finance.
"We hope the government will allow and legalize this so that we can increase the youth's uptake of cryptocurrencies."
Datuk Zahidi further mentioned the future plans of the Minister looking into options to increase the interest and engagement in crypto and NFT (non-fungible tokens) trading platforms.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.