Legalising NFT, cryptocurrency will spark growth of new economy

MCMC's call to legalise NFT and crypto is a step towards boosting new economies in Malaysia, say proponents of digital assets. — REUTERS

The Communications and Multimedia Ministry’s (MCMC) recent proposal about legalising non-fungible tokens (NFT) and crypto mining activities has been well-received by the those in the local NFT and cryptocurrency industry.

A local startup founder involved in the NFT GameFi industry, Datuk Clifford Hii said that the industry welcomed it as a sign that the government recognised how important this new industry was and legalisation was the first step in bringing it into mainstream consciousness.