Government of Malaysia proposes Bitcoin, crypto as legal tender

The Communications and Multimedia Ministry of Malaysia proposed today that digital currencies such as Bitcoin (BTC) should be adopted as legal tender to help the younger generation who are active users of the currency trading platforms, says Datuk Zahidi Zainul Abidin, deputy minister of the Communication Ministry of Malaysia.

The Deputy Communications and Multimedia Minister said the ministry will look into ways to increase the youth’s involvement in digital currencies as it is the future of finance. He also noted that all of these are under the purview of Bank Negara Malaysia and the Securities Commission.