Malaysia’s Ministry of Communications and Multimedia, short for KKMM from Malay, offered to legalize the crypto sector. Datuk Zahidi Zainul Abidin, the deputy minister of KKMM, offered regulators to make crypto legal tender. According to him, this will help young people to actively use crypto, especially NFTs.
Related: Binance returns to the Malaysian market
As Malaysian local media reports, Abidin said under the financial authorities of the country, the Ministry aims to increase the usage of crypto. He expressed hopes that the government would define a legal framework for the space. Abidin views crypto as a part of the future of finance.
Currently, El Salvador is the only country where Bitcoin is a legal tender. It means that BTC should be accepted when offered for payments.
Apparently, opinions about crypto differ in Malaysia. Deputy Finance Minister Yamani Hafez Musa said earlier that cryptos aren’t suitable for payments and as a store of value. He also said that crypto is an asset class to make investments in.