What do you think about the legalization of bitcoin in Malaysia.

emberbekas

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

If this is true then it will give an impact to the development of bitcoin. But one thing that take into my consideration is due to the fact that Malaysia is my neighboring country. If Malaysia will legalize bitcoin I am sure my government will start to think to take the same action as Malysia did. that's what I look forward to since a long time!

bit-freedom

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It is great that Malaysia government is considering to legalise Bitcoin. Happy to see one more country accepting Bitcoin. I know about Bitcoin acceptance in its neighbour countries such as Singapore and Philippines, didn’t see it coming from Malaysia so soon.

lucifochrome

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This news is interesting but it is kind of a foreseen circumstance, given that japan legalized bitcoin, vietnam is on its way there, Next thing we know is that every country will legalize it and we will see some huge pump in bitcoin. The more transaction that happens the more the increase of the price. As long as we get huge support of the community then we will be seeing bitcoin stabilize but still it will take years before that happens. Still this is an interesting development for bitcoin.

Altas

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Malaysia too is an technology wise developing country. Legalized usage of bitcoin will be making an risk free usage, because of the government itself giving space to the users whereas we cannot see similar response for bitcoin around majority of the countries around the world.

Shinza

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

generally, that looks good. Such that, btc transactions will be made easier and people can use btc more openly and systematically. But certainly that will makes some people do not like, they're managed by the goverment when making the transactions and must disclose the number of crypto that they owns. Invisibly the anonymity when using btc is no longer.

fredo123

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This is my inputs about bitcoin legalization. They wonder how advantageous bitcoin does to economy,This movement invites other country to get indulge in bitcoin industry, because of its positive output to the mass, Hopefully it will spread out globally to facilitate unity around the world.

maulana rifai

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

see the future of bitcoin nice. good step for malesia country plan who want set the user, cryptocurrencies.

Sadlife

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Yep it was interesting but when i saw the word "regulation" it kinda turn me off i guess they're probably planning to tax bitcoin like china or US but if they fail cause the blockchain technology will not show its transaction to anyone and once they can't regulate bitcoin they will call it a scam and ban it like what china did. Why dont they follow japan's footstep on how letting their people freely use bitcoin?

tukiMiN

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

if it does happen then it is good news for neighboring countries, hopefully Indonesia can follow malaysia to legalize bitcoin.
for bitcoin also will definitely happen a good movement for the value of bitcoin, the better and more familiar

no0dlepunk

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

This is awesome! actually, last month I submitted my application as a whitepaper translator to an ICO which will spread bitcoin ATMs across the south east Asia. The whitepaper stated that they want to place numerous ATMs in Malaysia and in the Republic of the Philippines. If this project materializes, this will surely attract more bitcoin users and eventually the price will double in less that a year. High Five.

dificanovi

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

very good news, I am very happy to see news like this. bitcoin is being accepted by various countries. I hope in my country quickly receive bitcoin as a valid payment instrument.

aoluain

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This of course is good and positive news for bitcoin and crypto in general.
Regulation is needed but as i mentioned in a different thread, it will be
interesting what will be involved in regulation.

If it ensures safe scam free environments for using crypto in all aspects
Without compromising anonimity it will be perfect.

veraoktav127

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

very good if the country already protects its citizens with the rules it makes. if bitcoin rules are applied in a bitcoin users will be more legally protected and they will be more comfortable and secure in using bitcoin

Almat

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Countries accepting Bitcoin is always good news, but it's not that black and white. Government acceptance always comes with regulations, and regulations are not always good for cryptocurrencies. I hope they approach it in a progressive way, but I suppose it's enough that banning it is currently not on the table.

daserpent

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I have been saying this for a long time now, Bitcoin is not gonna make banks irrelevant. They are gonna co-exist.

Bitcoins after all is a currency, just like dollars or euros. Banks are institutions that lend or borrow currency and make a profit as a result.

Bitcoin being another currency, eventually the banks will start accepting bitcoins as a currency and let people store their crypto in the banks and so on.

ahmad21

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Quote from: Xenrise on October 10, 2017, 06:15:11 AM

Quote from: ActiveP on September 25, 2017, 11:26:44 AM

Good news if true. In countries like the philippines, many workers and expat employees utilize bitcoin platforms to send remittances. wIthin two years of operation, coins.ph has gained millions of new active users that are using the coins.ph platform to send money, settle utility bills, purchase goods and bitcoin. Malaysia could follow suit.

Well this is a great start indeed. I think that countries like this has a great chance to prove itself in cryptocurrency world. They have great minds also.

Yes if world shifts on a crypto based economy these countries could be the first to take advantage of the growing economy. But it would be evident to see when some big countries will properly openly legalize bitcoin.

Proton2233

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Quote from: smartbitcoininvestor on October 10, 2017, 06:33:15 AM

This is another victory for Bitcoin.

Regulation lets investors have a better peace of mind and buy crypto without worries. So I think its kinda on a safer side if legalization is in place for a country. This is a huge step for Malaysia and could be the start of a great movement in Southeast Asia.

I could definitely see Thailand or the Philippines also adopting a similar stance on Bitcoin. As a free virtual currency, it should be our inalienable right to own and use Bitcoin, so my hope is that eventually Bitcoin is legalized worldwide.

What do you mean free virtual currency? Bitcoin no one gets free. We need to work to earn coins. Only miners mine coins for free but they have made huge investments for the purchase of equipment. All Asian countries except Japan wary of bitcoin. China has a great influence on the region and hence a significant movement towards the legalization of bitcoin will not.

smartbitcoininvestor

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This is another victory for Bitcoin.

Regulation lets investors have a better peace of mind and buy crypto without worries. So I think its kinda on a safer side if legalization is in place for a country. This is a huge step for Malaysia and could be the start of a great movement in Southeast Asia.

I could definitely see Thailand or the Philippines also adopting a similar stance on Bitcoin. As a free virtual currency, it should be our inalienable right to own and use Bitcoin, so my hope is that eventually Bitcoin is legalized worldwide.

Gaaara

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

That is a good thing, since some country ban bitcoin it is a great catalyst if some country does the reverse. Malaysia surely wants to improve itself as a country, their governments did a good thing for their country as long as it won't go out of their control there will be positive outcome for them.

avikz

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Quote from: Ramsay555 on September 25, 2017, 11:11:26 AM

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

That is a positive and most welcoming news I read this morning! If it happens, it will give a huge boost to the crypto users around the world and not only in Malaysia. If the government succeeded to protect the interest of crypto users for Malaysia, then probably more countries will follow their framework. However, I am little doubtful about the true intention of the Malaysian government, because it may work against the users as well. But if it goes well, it will indeed bring good vibes back to the market.

Topic: What do you think about the legalization of bitcoin in Malaysia. (Read 829 times)