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Malaysia’s Government Is Reportedly Still Deciding Whether Cryptocurrencies Should Be Legal


www.cryptoglobe.com 13 January 2019 13:02, UTC
Reading time: ~1 m

The government of Malaysia is reportedly still deciding whether or not cryptocurrencies should be legalized in the country, as according to its Federal Territories Minister Khalid Abdul Samad the “matter was still under consideration” as of January 12.

Speaking to local news outlet New Straits Times, the policymaker revealed that while he was involved in the launch of the Harapan Coin (HRP) – a propose political cryptocurrency – he wasn’t appointed the country’s finance minister, and as such can’t push the matter.

He was quoted as saying:

People have asked me if these [crypto]currencies are legal or illegal. At the moment, the answer is neither legal nor illegal as the situation is still unclear.

must go through the central bank first.

In July of last year, over 12 Indian businessmen reportedly lost thousands of dollars to a Malaysian cryptocurrency Ponzi scheme.

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