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Regulation and Policy

Malaysia Eyes Crypto Regulations to Modernize Financial System

Malaysia Eyes Crypto Regulations to Modernize Financial System

Malaysia is exploring the potential of cryptocurrency regulation as part of a strategy to modernize its financial system.

Prime Minister Datuk Seri Anwar Ibrahim recently discussed the idea with officials in Abu Dhabi and Binance founder Changpeng “CZ” Zhao during his visit to the UAE. These talks centered on positioning Malaysia to adapt to the rapidly evolving global financial landscape.

Anwar stressed the importance of embracing digital finance to ensure the country doesn’t fall behind. He described the shift as a necessary break from outdated financial models, emphasizing the urgency of staying competitive in an increasingly digital world.

Collaboration with the UAE was highlighted as a key component in shaping Malaysia’s crypto policy. Anwar noted the need for detailed discussions and comprehensive planning to address regulatory and operational challenges. This would involve input from entities like the Treasury, Securities Commission, and Bank Negara Malaysia.


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The move comes amid increased scrutiny of the crypto industry by Malaysian regulators. Recently, the Securities Commission ordered Bybit to cease operations and added several platforms, including Atomic Wallet and KuCoin, to its alert list for operating without registration. Despite this, Anwar’s focus on innovation signals a potential shift in Malaysia’s approach, aiming to balance regulation with fostering growth in the digital asset space.

Author
Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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