Bitcoin Forum

In this morning, i saw a news on the bitcoin-news's Facebook post regarding on the legalization of bitcoin in Malaysia. The Bank Negara Malaysia which is the central bank of Malaysia is planning to develop a framework (something like guidelines) to regulate the usage of cryptocurrencies to protect the people that involving in cryptocurrencies's sector as Malaysia's bitcoin trader and miner are increasing. So what do you think about it? Is it an interesting development for the future of bitcoin and the usage of bitcoin in Malaysia?

i can say that it will be a good start if in your country the government start to make measure of how facilitating crypto currencies and they starting
recognizing the existence of this internet money if this would be move forward for sure it will also bring some good movement for btc and for those
other crypto which is supported from your country mate.

Good news if true. In countries like the philippines, many workers and expat employees utilize bitcoin platforms to send remittances. wIthin two years of operation, coins.ph has gained millions of new active users that are using the coins.ph platform to send money, settle utility bills, purchase goods and bitcoin. Malaysia could follow suit.

Wow, good for you pal! And also for malaysia!
This trully is a big step not only for malaysia and its people, but also for bitcoin and all the pther crypto currencies in the crypto world! Having a country that is doing something positive about crypto currencies is what people like us need right now with all these bad news and price drops recently. This will open lots of doors and would probably open a great possibility of other countries following malaysia’s action/decision regarding crypto currencies. And i hope that mu country also does the same in the near future because im itching to use these coins i have for daily needs that people here use to make fun of me and my beliefs in crypto currency.

This is a another milestone for bitcoin, more and more asian countries are accepting bitcoin as currency, hopefully this has some reliable source, in order for us bit to be skeptical, since what we have on social media can be edited. If this is true though, more and more good news will sure to follow, i think malaysia legalized bitcoin followin india, since there are a lot of indian nationals also living in malaysia, this is a good thing though, they need not to exchange malaysian currency to rupees anymore since now they have bitcoin, they could just simply fly over to india and use their bitcoins and vice versa, this is also good for the malaysians, knowing that their country is more advance than the philippines, malaysia will sure to make use bitcoin and and gain more advantages. I hope you will also share the link,  since i haven't read news yet from malaysia, it is always china, russia and india as of the moment, still more and more malaysians will get rich because of this, and hopefully they already found a way on how they can regulate bitcoin on their end, since that is always the problem.

This is really good news for the whole Bitcoin's community, and for Bitcoin itself surely. The people of Malaysia will deal legaly with bitcoin and the bitcoin's community will grow up even more.
It is another great milestone for Bitcoin.

Its a good news. You're the lucky guy. Its a good step for crypto currencies in Malaysia!. It can help bitcoin to increase.More people use it more it can rise plus the price my also increase.   
The future of bitcoins seems bright.Hope countries like china resize there mistake and unban the bitcoins.

I think thats good news and that it will encourage even more people, especially in East of Asia , to start using Bitcoin and trading it. This is another good sign showing us that Bitcoin keep growing up and sooner or later it will be legalized worldwide

maybe yes, maybe not. depending on how much the population has bitcoin in the country. there must be an increase, it must happen. but on a certain scale.

Always good to see stuff like this. But I will check back in a few pages to see if this news is not yet another fake article again. ;)

If Bitcoin will be legalized in your country it'll be great. Congratulation! In my country, it's really hard to know exactly that Bitcoin will be legalized or not cause yesterday I saw the news on TV and they said that Bitcoin will be legalized in my country in 2019 but today they said that it'll never be legalized in my country :)) Don't know which one should i believe in :)) But it'll very great if Bitcoin is legalized, you can use Bitcoin to buy anything you want directly and don't have to exchange it into cash anymore :)

A step forward and risky done by Malaysia. but if it does happen, I really appreciate that step. It could be a reference for other ASEAN countries. Recently, Indonesia as a major country in ASEAN has rejected Bitcoin. But I still hope that in the future Bitcoin will become a trusted digital payment tool in Indonesia and other ASEAN countries.

It is the right thing to do. Malaysia is on the right track unlike China.

This is very good news, and a very good example to countries, we can not lie, the future is the bitcoin, and in a few years some nations will understand, I hope.

    A good news in the digital  currency market.The Malaysian governments activity which will be stumilant to enter lots of new people to the BTC market so as to increase the trade volume and consequently the bitcoin price can move upwards further.

It's a good news, if there is a country that is legalizing bitcoin that's always a good news in the crypto world. Everyone is celebrating to this great news. Though they will regulate the usage of crypto currencies as long as the country will support it there's nothing bad with that. Later on, that regulation will just give an empty feeling to the crypto people there. There is something big that's about to happen in Malaysia, nearby countries will follow as well.

Yes definitely this has been a very good inspiration for people of Asia to adopt bitcoin, and specially India to use bitcoin. Due to the legalization of bitcoin recently in many Asian and other developing countries too. The more people adopt bitcoin, the more it will become stable and volatility will be a bit more predictable. The price will also be supported above a certain point and won't drop below that, which will definitely help to keep people's trust in BTC more stable.

I thought the Bitcoin was legal in Malaysia, or is it legal, but not regulated by the government? Maybe they will regulate the ICO and crypto currency exchanges, just like what other countries did. If it is regulated, expect a higher transaction fees and conversion fees that local exchanges will impose.

This is definitely a good news for all bitcoin enthusiast in Malaysia. Bitcoin has really attracted and gaining popularity that every nation big or small are taking notice about this tsunami coming their way. I think they should reach to their neighbors-The Philippines who have been a bitcoin friendly and the Central Bank have already set up their own guidelines on how to deal with crypto currency. I'm not aware how big bitcoin and crypto-currency in Malaysia, but this news will surely jump the number of bitcoin enthusiast and the community will flourish if the Central Bank of Malaysia develops their framework or regulations of bitcoin usage in their country. Let's wait and see how everything will evolved and hope everything will turn out positive.

This news will beneficial for us bitcoin users out here. For a government to legalize something means they have studied it very thoroughly and weigh the risk and the benefits of using bitcoins. By legalizing it is recognizing the potential of bitcoin and the legitimacy of it thus countering the effects of the China FUD. Which means bitcoin price will rise especially if other countries will follow to legalize bitcoin.

The legalization of bitcoin in Malaysia is gone news for the people who lives in malaysia...for that im sure there is a lot opportunity will cone or open for the people of malaysia

Well this is a great start indeed. I think that countries like this has a great chance to prove itself in cryptocurrency world. They have great minds also. 

That is a positive and most welcoming news I read this morning! If it happens, it will give a huge boost to the crypto users around the world and not only in Malaysia. If the government succeeded to protect the interest of crypto users for Malaysia, then probably more countries will follow their framework. However, I am little doubtful about the true intention of the Malaysian government, because it may work against the users as well. But if it goes well, it will indeed bring good vibes back to the market.

That is a good thing, since some country ban bitcoin it is a great catalyst if some country does the reverse. Malaysia surely wants to improve itself as a country, their governments did a good thing for their country as long as it won't go out of their control there will be positive outcome for them.

This is another victory for Bitcoin.

Regulation lets investors have a better peace of mind and buy crypto without worries. So I think its kinda on a safer side if legalization is in place for a country. This is a huge step for Malaysia and could be the start of a great movement in Southeast Asia.

I could definitely see Thailand or the Philippines also adopting a similar stance on Bitcoin. As a free virtual currency, it should be our inalienable right to own and use Bitcoin, so my hope is that eventually Bitcoin is legalized worldwide.  

What do you mean free virtual currency? Bitcoin no one gets free. We need to work to earn coins. Only miners mine coins for free but they have made huge investments for the purchase of equipment. All Asian countries except Japan wary of bitcoin. China has a great influence on the region and hence a significant movement towards the legalization of bitcoin will not.

Yes if world shifts on a crypto based economy these countries could be the first to take advantage of the growing economy. But it would be evident to see when some big countries will properly openly legalize bitcoin.

I have been saying this for a long time now, Bitcoin is not gonna make banks irrelevant. They are gonna co-exist.

Bitcoins after all is a currency, just like dollars or euros. Banks are institutions that lend or borrow currency and make a profit as a result.

Bitcoin being another currency, eventually the banks will start accepting bitcoins as a currency and let people store their crypto in the banks and so on.

Countries accepting Bitcoin is always good news, but it's not that black and white. Government acceptance always comes with regulations, and regulations are not always good for cryptocurrencies. I hope they approach it in a progressive way, but I suppose it's enough that banning it is currently not on the table.

very good if the country already protects its citizens with the rules it makes. if bitcoin rules are applied in a bitcoin users will be more legally protected and they will be more comfortable and secure in using bitcoin

This of course is good and positive news for bitcoin and crypto in general.
Regulation is needed but as i mentioned in a different thread, it will be
interesting what will be involved in regulation.

If it ensures safe scam free environments for using crypto in all aspects
Without compromising anonimity it will be perfect.

very good news, I am very happy to see news like this. bitcoin is being accepted by various countries. I hope in my country quickly receive bitcoin as a valid payment instrument.

This is awesome! actually, last month I submitted my application as a whitepaper translator to an ICO which will spread bitcoin ATMs across the south east Asia. The whitepaper stated that they want to place numerous ATMs in Malaysia and in the Republic of the Philippines. If this project materializes, this will surely attract more bitcoin users and eventually the price will double in less that a year. High Five.

if it does happen then it is good news for neighboring countries, hopefully Indonesia can follow malaysia to legalize bitcoin.
for bitcoin also will definitely happen a good movement for the value of bitcoin, the better and more familiar

Yep it was interesting but when i saw the word "regulation" it kinda turn me off i guess they're probably planning to tax bitcoin like china or US but if they fail cause the blockchain technology will not show its transaction to anyone and once they can't regulate bitcoin they will call it a scam and ban it like what china did. Why dont they follow japan's footstep on how letting their people freely use bitcoin?

see the future of bitcoin nice. good step for malesia country plan who want set the user,  cryptocurrencies.

This is my inputs about bitcoin legalization. They wonder how advantageous bitcoin does to economy,This movement invites other country to get indulge in bitcoin industry, because of its positive output to the mass, Hopefully it will spread out globally to facilitate unity around the world.

generally, that looks good. Such that, btc transactions will be made easier and people can use btc more openly and systematically. But  certainly that will makes some people do not like, they're  managed by the goverment when making the transactions and must disclose the number of crypto that they owns. Invisibly the anonymity when using btc is no longer.

Malaysia too is an technology wise developing country. Legalized usage of bitcoin will be making an risk free usage, because of the government itself giving space to the users whereas we cannot see similar response for bitcoin around majority of the countries around the world.

This news is interesting but it is kind of a foreseen circumstance, given that japan legalized bitcoin, vietnam is on its way there, Next thing we know is that every country will legalize it and we will see some huge pump in bitcoin. The more transaction that happens the more the increase of the price. As long as we get huge support of the community then we will be seeing bitcoin stabilize but still it will take years before that happens. Still this is an interesting development for bitcoin.

It is great that Malaysia government is considering to legalise Bitcoin. Happy to see one more country accepting Bitcoin. I know about Bitcoin acceptance in its neighbour countries such as Singapore and Philippines, didn’t see it coming from Malaysia so soon.

If this is true then it will give an impact to the development of bitcoin. But one thing that take into my consideration is due to the fact that Malaysia is my neighboring country. If Malaysia will legalize bitcoin I am sure my government will start to think to take the same action as Malysia did. that's what I look forward to since a long time!