Comms Ministry proposes adopting cryptocurrency as legal tender

KUALA LUMPUR: The Communications and Multimedia Ministry proposes that digital currencies such as cryptocurrency be adopted as legal tender to help the younger generation who are active users of the currency, especially on non-fungible token (NFT) trading platforms, says Datuk Zahidi Zainul Abidin (pic).

The Deputy Communications and Multimedia Minister said the ministry will look into ways to increase the youth’s involvement in digital currencies as it is the future of finance.

“All of these are under the purview of Bank Negara Malaysia and the Securities Commission.

“We hope the government will allow and legalise this so that we can increase the youth’s uptake of cryptocurrencies,” he said.

Zahidi said this in the Dewan Rakyat Monday (March 21) in reply to a supplementary question from Syed Ibrahim Syed Noh (Ledang-PH) on the government’s stand on trading on NFT platforms, which was becoming more popular, especially among the younger generation. - Bernama