Is Malaysia crypto friendly - page 4.

abhiseshakana

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Quote from: digital_mine on January 30, 2020, 09:14:28 AM

Hi there,

I would like to ask if someone here knows or not Malaysia is open to cryptocurrencies related business?

If someone is actually doing something or if there are some projects or incentives to star up something there...

Thanks for your attention

Mahathir Mohamad was campaigning heavily for de-dollarization. Malaysia initiated the Kuala Lumpur Summit (December 2019) which was attended by 20 countries and from the four countries present, Malaysia, Iran, Turkey, and Qatar, considering trade cooperation by using gold as a payment instrument, replacing the US dollar.

The results of the Kuala Lumpur Summit also gave rise to the agenda of creating a new regional currency that was intended for transactions between members. This new currency can be either gold or stable coins with gold underlying.

This agenda certainly brings great opportunities for the development of cryptocurrency in Malaysia. The latest news, the Malaysian Securities Commission (SC) has issued regulatory guidelines that require token / Initial Exchange Offerings (IEO) in the country to be attached to the exchange requires every Malaysian regulator.

This certainly opens up many opportunities for start-up businesses on the basis of a growing blockchain and crypto base in Malaysia. There are already a number of programs running like this below.

https://fintechnews.my/18476/blockchain/blockchain-malaysia-projects/

monineklutak

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Quote from: Negotiation on February 02, 2020, 04:09:16 AM

I think Malaysia has never been open to crypto before but now they want to open up the cryptocurrency business and improve their country's economy. It will definitely take time to turn it on If Malaysia launches cryptocurrency, its demand will increase and crypto will reach its peak of growth.

Crypto currencies in Asia are very open, Singapore, Indonesia, Japan, Thailand, Vietnam, South Korea and China strongly support crypto currencies, many crypto projects that were born from Asian countries, but many also ended sadly

Findingnemo

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The adoption rate of cryptocurrency in Malaysia is still low which is reported by the Malaysian Finance Ministry in the late 2019.But they are still friendly to cryptos and their bank warned about fraudulent activities involved in cryptos to their people.If you want to open any business in Malaysia regarding better hire someone from that country who knows what are the regulatory measures before going up for a start up.

cryptoaddictchie

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Quote from: digital_mine on January 30, 2020, 09:14:28 AM

Hi there,

I would like to ask if someone here knows or not Malaysia is open to cryptocurrencies related business?

Malaysia is open but the users are not that many compared to other country like Indonesia and Philippines. I am working in malaysia and rarely see some guys who are interested but I noticed there are fond of doing mining cause my co worker said he has friends who are doing cryptocurrency mining.

If you would noticed they dont have own local board here on forum cause the users arent that many to put up. But there are many members here came from Malaysia. I'm not sure whether theymos could put up one for Malaysian users maybe in the future if the community members increased.

Negotiation

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I think Malaysia has never been open to crypto before but now they want to open up the cryptocurrency business and improve their country's economy. It will definitely take time to turn it on If Malaysia launches cryptocurrency, its demand will increase and crypto will reach its peak of growth.

Wexnident

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Yes it's open. But AFAIK, it also isn't rather friendly with regards to cryptocurrency. The central banks in Malaysia is adopting an "each to their own" attitude with regards to it, so it isn't banned, but it isn't also friendly. As they have said, users, themselves should be aware of the risks involved with Crypto.

If you were looking to start a business in Malaysia, then it might not be a good start. The crypto community there would naturally be well informed of what Crypto entails, but those entering it would avidly avoid it because of the words "risk". Especially since the banks have stated their stance quite clearly.

frank0ly

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I think Malaysia is open to cryptocurrency. But it is important to understand that at the moment there is no condition for the active promotion of cryptocurrency in the country. If you are an enthusiast who is ready to be one of the first on this path, then I'm sure that everything should work out.

digital_mine

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Hi there,

I would like to ask if someone here knows or not Malaysia is open to cryptocurrencies related business?

If someone is actually doing something or if there are some projects or incentives to star up something there...

Thanks for your attention

Topic: Is Malaysia crypto friendly - page 4. (Read 955 times)