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Tuesday

22 October 2019

Malaysian Finance Ministry: Cryptocurrency Adoption Remains Low

Malaysian Finance Ministry: Cryptocurrency Adoption Remains Low


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In its Economic Outlook 2020 report released today, the ministry nonetheless noted that several prominent firms in key economic sectors had taken steps toward digital currency adoption, according to a business news report from Bernarama on Oct.

In January 2019, Malaysia's Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 came into effect to regulate both digital assets and exchange platforms.

The Order determines that any digital assets offered as a form of investment or used as a method of fundraising are classified as securities in the country.

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