Press conference by Digital Minister Gobind Singh Deo (centre) after the launch of the Great Malaysia AI Hackathon 2025 at the Asia Pacific University of Technology Innovation (APU). — YAP CHEE HONG/The Star
PETALING JAYA: Malaysia is encouraging the growth of digital assets, which are seen as an emerging pillar of the country’s financial system, said Digital Minister Gobind Singh Deo (pic).
He said global trends show digital assets evolving from a niche concept into a significant component of financial markets.
“For Malaysia, this represents an opportunity to build a future-ready digital economy aligned with our national digital policies,” Gobind said at the launch of a digital asset conference here yesterday.
He noted that digitalisation has long been central to the country’s agenda, with the Financial Sector Blueprint 2022–2026 highlighting Malaysia as a forward-thinking nation ready to embrace digital finance innovations.
“In 2019, Malaysia became one of the first countries in the region to regulate the digital asset industry. This ensured Malaysians could access digital assets safely and securely, while allowing the industry to grow in a regulated environment,” he said, adding that nearly two million Malaysians now have safe access to digital assets.
“Through the Securities Commission’s Recognised Market Operator framework, we have also introduced clear guidelines to properly regulate digital asset exchanges.”
Gobind stressed that sustainable growth would require governance, capital and innovations from established financial institutions.
“Although there are several factors that encourage digital asset adoption, trust and interoperability are the main ones. We have clear legal and regulatory frameworks to build trust and prevent misuse.
“But trust must be earned. More must be done to win the hearts and minds of users, assuring them that our digital space is safe, secure and trusted,” he said.
At the same time, Gobind said consumers expect a seamless digital experience, which requires interoperability standards to ensure the smooth integration of digital asset systems.
“This will result in compatibility with existing payment systems and mobile wallets,” he said.
