Malaysia Will Not Adopt Bitcoin as Legal Tender

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The country’s Deputy Financial Minister has refuted the recent speculations that bitcoin and other digital assets could be legalized in Malaysia.

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Shahar Abdullah said the nation will focus on issuing a central bank digital currency

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Malaysia’s Deputy Minister of the country’s Communication Ministry proposed that the nation should follow the footsteps of El Salvado

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This would have made it only the second country in the world to take such steps

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Malaysia’s Deputy Finance Minister said there’re no such plans at the moment.

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Cryptocurrencies like Bitcoin are not suitable for use as a payment instrument due to various limitations

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The politician outlined a different path Malaysia has taken – via a central bank digital currency.

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growing technology and payment landscape have prompted the Bank

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Negara Malaysia to actively assess the potential of bank’s digital currency central

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