if you look at the political situation in the country, i am pessimistic that this law will pass in the malaysian parliament ... especially in some areas that hold strongly to the shari'a. moreover, the one who proposed this was the minister of communications, not the minister of finance of malaysia directly
... even if this reference is passed by parliament, there will definitely be many changes to adjust the regulations there
Topic: Malaysia could be an encouragement to legalize crypto in asian country? - page 2. (Read 172 times)
March 21, 2022, 10:16:00 AM
March 21, 2022, 09:00:37 AM
I think the government does have to understand the fact that even though the youth are the future of the country they still do have to encourage people of all ages to take part in the whole crypto economy.
Legalizing it would make it more convenient if everyone was given a bonus like in El Salvador on joining, this would definately encourage more people to sign up.
The wallets also have to integrated with the banks as well because most of them usually are pretty cautious dealing with cryptocurrencies. This is a whole process we have much more that needs to be done therefore I do think it's essential that the government take it step by step and makes sure to employee people already engaged in cryptocurrencies to shape laws and regulations.
Legalizing it would make it more convenient if everyone was given a bonus like in El Salvador on joining, this would definately encourage more people to sign up.
The wallets also have to integrated with the banks as well because most of them usually are pretty cautious dealing with cryptocurrencies. This is a whole process we have much more that needs to be done therefore I do think it's essential that the government take it step by step and makes sure to employee people already engaged in cryptocurrencies to shape laws and regulations.
March 21, 2022, 08:05:57 AM
Quote
Malaysia’s Communication Ministry has proposed to the government that crypto currency such as bitcoin be adopted as legal transfer, its deputy minister Zahidi Zainul Abidin told Parliament on Monday.
First el Salvador make bitcoin a legal tender later Ukraine passed a law for accepting bitcoin now Malaysia. Legalizing bitcoin is more significant than the first two countries because of its economical power. Govt said that they are trying to increase youth participation in the crypto industry. Till now it's just a proposal to the govt. Do you really think govt will legalize bitcoin and other cryptocurrencies? we have seen in an Asian country like India govt implies unreasonable tax to discourage people to invest in crypto. Malaysian crypto policy will encourage other Asian countries to legalize crypto or lift unreasonable tax to encourage youth to participate?
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