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

by Mike Robinson

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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.

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