Hello, Plan to move to Malaysia for 6 month, I will receive salary as bitcoin, do you guys know will I be able to withdraw money from local Malaysia exchanges?
salary paid in BTC? Nice. do try this link for quick reference about bitcoin exchange in Malaysia
https://www.finder.com/myand I would also like to take this opportunity to extend my warmest
pre-Welcome to you Spike1337.
In your country, virtual money is of no concern to you, especially about the bitcoin, you get the state to allow the virtual currency to be released and circulated.
I really do hope your statement is solely intended to getting more posts in your profile, buddyI am sorry but I have to disagree with you. In my country or any other place for that matter, virtual currency is everybody's concern. It has been creating new economic wave globally and we in Malaysia are not to be left behind. Recently our politician (minister) mentioned they are not shutting out the technology while central bank has not released its final policy regarding crypto. With public election closing in within next 3 months, we are still in grey area so to speak.
The government like all other government are scurrying to find solution in maintaining fiat as the only legal tender and if all means failed - get your income earned from digital currency taxable. Losing revenue is always no.1 objective for actions done. The AML/KYC or consumer protection reasons, by far this 2 instruments has been the only solid tool used by government around the world to back its policy ruling.
Logical challenge for fiat to compete with crypto is in the supply side.
- How transparent is the issuance of fiat and what are the release parameters.
- Can decisions made related to fiat be debatable by the public on equal ground with policy maker.
Beyond this issues, I dont see significant difference between the 2 currencies. So, I hope I have made my point clear where virtual money is our concern too as much as it is to you.
Well explanation bro. It looks like many foreigners didn't know much about our country, especially about the cryptocurrency issues. Your above statements really sum up the current situation in Malaysia.
Thank you guys for kind replies, I have choice between Malaysia, Singapore and Thai, I will choose best option for me but right now I want to go to Malaysia.
Can you suggest which city will be best option for me and if you have any suggestions feel free to give me an advise.
PS: I won't be able to withdraw money from luno or local exchanges? only through localbitcoins? I don't want to trust them
First of all, welcome to Malaysia. Glad you chose Malaysia as your first pit stop in ASEAN. At this moment, it's impossible to withdraw money from Luno to Malaysia's local banks (it's still undergo some regulation circumstances from BNM (Bank Negara Malaysia or the central bank of Malaysia) Your only best option is to deal with localbitcoiners, even though the fees might be a little bit higher than Luno.
Also, you can try your luck with Remitano or Coinhako too~
