{"id":419266,"date":"2022-03-21T11:11:36","date_gmt":"2022-03-21T08:11:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/malaysian-comms-official-calls-the-state-to-legalize-crypto-and-nfts\/"},"modified":"2022-03-21T11:11:36","modified_gmt":"2022-03-21T08:11:36","slug":"malaysian-comms-official-calls-the-state-to-legalize-crypto-and-nfts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/malaysian-comms-official-calls-the-state-to-legalize-crypto-and-nfts\/","title":{"rendered":"# Malaysian comms official calls the state to legalize crypto and NFTs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2d218e402bf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2d218e402bf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/malaysian-comms-official-calls-the-state-to-legalize-crypto-and-nfts\/#%E2%80%9D_Malaysian_comms_official_calls_the_state_to_legalize_crypto_and_NFTs_%E2%80%9C\" >&#8221; Malaysian comms official calls the state to legalize crypto and NFTs &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Malaysian_comms_official_calls_the_state_to_legalize_crypto_and_NFTs_%E2%80%9C\"><\/span>&#8221; Malaysian comms official calls the state to legalize crypto and NFTs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMjkzMDY0ZjItOTM1ZS00NTRlLTliNDktNzA1NzZjMmMzNDc3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The Malaysian Ministry of Communications and Multi<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> (KKMM) is reportedly backing the adoption of cryptocurrencies, with the deputy minister calling the government to legalize crypto.<\/p>\n<p>Deputy communications and multimedia minister Datuk Zahidi Zainul Abidin has urged Malaysia\u2019s regulators to legalize certain use cases of cryptocurrencies and nonfungible tokens (NFT), local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> agency Harian Metro <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.hmetro.com.my\/mutakhir\/2022\/03\/823331\/k-komm-gesa-penggunaan-mata-wang-kripto-dibenarkan\" data-amp=\"https:\/\/www-hmetro-com-my.cdn.ampproject.org\/c\/s\/www.hmetro.com.my\/amp\/mutakhir\/2022\/03\/823331\/k-komm-gesa-penggunaan-mata-wang-kripto-dibenarkan\">reported<\/a> on Monday.<\/p>\n<p>Zahidi pointed out that such measures would significantly support young people as the cryptocurrency industry has been growing increasingly popular among the younger generation. He also said that the KKMM is exploring ways to increase the participation of young people in the industry.<\/p>\n<p>The deputy minister noted that the decision on crypto regulation is up to Malaysia\u2019s financial regulators, including the central bank and the Securities Commission Malaysia.<\/p>\n<p>However, the ministry is willing to bring this issue up because the crypto industry is the \u201cbusiness and financial program of the future, especially for young people now,\u201d Zahidi said, adding:<\/p>\n<blockquote><p>\u201cWe hope the government can try to legalize this matter so that we can expand the participation of young people in cryptocurrencies and help them in terms of energy consumption and so on.\u201d<\/p><\/blockquote>\n<p>According to some sources, Zahidi proposed not just legalizing certain cryptocurrency transactions in Malaysia but rather adopting cryptocurrency as legal tender.<\/p>\n<p>The KKMM officials did not immediately respond to Cointelegraph\u2019s request for comment. This article will be updated pending new information.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Comms Ministry in Malaysia proposes adopting cryptocurrency as legal tender &#8220;to help the younger generation who are active users of the currency, especially on non-fungible token (NFT) trading platforms&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/m4vXcsfMRr\">https:\/\/t.co\/m4vXcsfMRr<\/a><\/p>\n<p>\u2014 Zhu Su  (@zhusu) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zhusu\/status\/1505793476990218240?ref_src=twsrc%5Etfw\">March 21, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In early March, Malaysia\u2019s finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bharian.com.my\/berita\/nasional\/2022\/03\/932215\/kripto-tidak-diiktiraf-mata-wang-sah-diperlakukan-di-malaysia\">reiterated<\/a> that payments in cryptocurrencies like Bitcoin (BTC) and Ether (ETH) were illegal in the country as cryptocurrencies did not meet the universal characteristics of money.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance back in Malaysia via a strategic stake in regulated digital exchange<\/em><\/strong><\/p>\n<p>\u201cIn <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>, digital assets are not a good store of value and a medium of exchange. This is due to the fact that digital assets are vulnerable to volatile price fluctuations due to speculative investments, the risk of theft due to cyber threats and lack of scalability,\u201d he said.<\/p>\n<p>The minister added that Bank Negara Malaysia was working on potentially introducing a central bank digital currency and blockchain-related developments to respond to the growing trend in the digital asset industry.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/malaysian-comms-official-calls-the-state-to-legalize-crypto-and-nfts\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Malaysian comms official calls the state to legalize crypto and NFTs &#8220; The Malaysian Ministry of Communications and Multimedia (KKMM) is reportedly backing the adoption of cryptocurrencies, with the deputy minister calling the government to legalize crypto. Deputy communications and multimedia minister Datuk Zahidi Zainul Abidin has urged Malaysia\u2019s regulators to legalize certain use&#8230;<\/p>\n","protected":false},"author":1,"featured_media":419267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMjkzMDY0ZjItOTM1ZS00NTRlLTliNDktNzA1NzZjMmMzNDc3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,95118,74889,71511,48925,70934],"class_list":["post-419266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-nft","tag-payments","tag-government","tag-malaysia","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=419266"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/419267"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=419266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=419266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=419266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}