Malaysia rules out adopting cryptocurrency as legal tender

Malaysia is not recognising cryptocurrencies as legal tender due to "various limitations", says Deputy Finance Minister. — Bloomberg

Malaysia has no intention of recognising cryptocurrencies as legal tender, Deputy Finance Minister I said in parliament on Thursday.

"Cryptocurrencies like Bitcoin are not suitable for use as a payment instrument due to various limitations,” which include price swings and exposure to cyber threats, Mohd Shahar Abdullah said.