Malaysian comms official calls on the state to legalize crypto and NFTs
Malaysia’s finance minister previously warned that crypto payments were illegal, as they did not meet the universal characteristics of money.
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’s regulators to legalize certain use cases of cryptocurrencies and nonfungible tokens (NFT), local news agency Harian Metro reported on Monday.
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.
“We 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.”
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