Stock Groups

Malaysian minister advises government to legalize cryptos and NFTs By BTC Peers


Malaysian minister urges the government to legalize NFTs and cryptos

While Malaysia’s finance minister has labeled crypto payments as illegal, the region’s Ministry of Communications and Multimedia (KKMM) appears to be in support of the burgeoning sector.

In a report by local news agency Harian Metro on Monday, Deputy communications and multimedia minister Datuk Zahidi Zainul Abidin has urged the country’s regulators to legalize certain use cases of cryptocurrencies and NFTs.

Zahidi feels that it would benefit the younger generation who has been the driving force behind crypto rallies. His ministry also disclosed that they were looking at ways to encourage young people into the sector.

The government should legalize the matter, so we can increase the participation of youth in cryptocurrency and assist them with energy consumption.

Sources claim the minister may not be interested only in legalizing certain crypto transactions but also in full legalization for digital assets in Malaysia.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.