Malaysia's Prime Minister Datuk Seri Anwar Ibrahim is considering the introduction of regulations for cryptocurrency and blockchain technology to ensure the country keeps pace with global developments in the sector. During a recent visit to Abu Dhabi, he discussed potential policy frameworks with officials from the UAE government and representatives from the crypto exchange Binance. Anwar highlighted the need for comprehensive regulations to protect the interests of the Malaysian public and prevent loopholes. He mentioned that recent discussions with regulatory agencies, including security and treasury, are essential to exploring the benefits of cryptocurrency and blockchain while maintaining order in the financial system. Previously, Malaysia had taken actions against crypto exchanges like Binance and Huobi, signaling the need for a structured approach to digital currencies. Anwar aims to initiate and expedite legislative processes to establish a clear framework for the emerging crypto market in Malaysia.

Source 🔗