Malaysian comms official calls the state to legalize crypto and NFTs

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The Malaysian Ministry of Communications and Multimedia (KKMM) is reportedly backing the adoption of cryptocurrencies

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Deputy minister calling the government to legalize crypto.

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Zahidi pointed out that such measures would significantly support young people as the cryptocurrency industry has been growing increasingly popular

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He also said that the KKMM is exploring ways to increase the participation of young people in the crypto industry.

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The deputy minister noted that the decision on crypto regulation is up to Malaysia’s financial regulators

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Payments in cryptocurrencies like Bitcoin (BTC) and Ether (ETH) were illegal in the country

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Cryptocurrencies did not meet the universal characteristics of money.

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The minister added that Bank Negara Malaysia was working on potentially introducing a central bank digital currency

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Blockchain-related developments to respond to the growing trend in the digital asset industry

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