Putting speculations to rest, Malaysia’s deputy finance minister told parliament that the country has no intention of legalizing cryptocurrencies like Bitcoin, reported Bloomberg.
I Mohd Shahar Abdullah pointed out how using cryptocurrencies involve drawbacks such as price fluctuations and cybersecurity issues.
In early March, Malaysia’s communication ministry pushed for the adoption of Bitcoin as an official payment method. This comes months after El Salvador became the first country to name Bitcoin as a national currency.
See also: Why China’s crypto exodus is a boon for green bitcoin mining
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
