Malaysia Planning To Legalise Bitcoin

Despite China going hard on cryptocurrencies, other countries have shown a far pleasant response to the digital assets. Tan Sri Muhammad Ibrahim, Malaysia’s Bank Negara governor, in a recent statement, said that developing Financial Institutions would indicate that Malaysia may be considering embracing Bitcoin.

The governor mentioned different financial sector but cleared that the Bank Negara is trying to work on the cryptocurrency guidelines. The governor said they were hopeful for the guidelines to be out before the end of the year, especially the ones related to “anti-money laundering and terrorist financing”. He also added that they wanted to assure that there were clear guidelines for those who want to indulge in the particular sector.

Though it was not said out directly, it suggested that the country is open to the idea of legalising bitcoin after adding the necessary guidelines which would allow the citizens to involve in the crypto market legally.

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