Malaysian Government Still Undecided on Crypto’s Legal Status

 

 

 

 

 

The legal status of cryptocurrency remains an open question in Malaysia as the government has yet to make a final determination on the subject, according to recent reports from Malaysian media outlet Malay Mail.

Federal Territories Minister Khalid Abdul Samad confirmed today that the government is still considering the issue:

“People have asked me if these (cryptocurrency and digital currency) currencies are legal or illegal. At the moment, the answer is neither legal nor illegal as the situation is still unclear.”

The Minister’s comments to reporters occurred while he was officiating an event for orphans and deserving children organized by Blockchains.My and Pertubuhan Kebajikan Insaniah Srikandi Malaysia.

Khalid acknowledged his involvement in Harapan Coin’s launch, which he previously promoted for use in government transactions, but reminded reporters that he is the federal territories minister – not the finance minister. He suggested that his role limited his ability to impact any eventual decision:

“As the matter is not under my jurisdiction, I cannot push too much.”

 

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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