Is Malaysia crypto friendly

[Chrystora123]

snip..

Crypto currencies in Asia are very open, Singapore, Indonesia, Japan, Thailand, Vietnam, South Korea and China strongly support crypto currencies, many crypto projects that were born from Asian countries, but many also ended sadly

I think, Indonesia is almost the same as Malaysia, still "gray" to Crypto.. as far as I know, it's only Singapore a country that is crypto-friendly.  but for now, bitcoin and the like are categorized as securities under the supervision of the Malaysian Securities Commission. 

[Spider A4]

Hi there,

I would like to ask if someone here knows  or not Malaysia is open to cryptocurrencies related business?

If someone is actually doing something or if there are some projects or incentives to star up something there...

Thanks for your attention

Malaysia still can not enter in cryptocurrencies business, on the other things in Malaysia crypto position is not cleared, government still can not decided it's legal or illegal that means gray area. In that situation this not crypto friendly country. If even Malaysia is not a illegal staffs, they can adopt cryptocurrency very soon.

[whyrqa]

I believe that one can answer this question, hello, for example, the fact that the law on financial markets and payment service providers entered into legal force on January 15 in Malaysia.  As the text of this law says, all cryptocurrencies received the status of securities.  Based on this, all the activities of cryptocurrency users in Malaysia, as well as the entire circulation of cryptocurrencies will be regulated in accordance with the requirements of the Securities Commission.

[elisabetheva]

snip..

Crypto currencies in Asia are very open, Singapore, Indonesia, Japan, Thailand, Vietnam, South Korea and China strongly support crypto currencies, many crypto projects that were born from Asian countries, but many also ended sadly

I think, Indonesia is almost the same as Malaysia, still "gray" to Crypto.. as far as I know, it's only Singapore a country that is crypto-friendly.  but for now, bitcoin and the like are categorized as securities under the supervision of the Malaysian Securities Commission. 

in fact, for the Southeast Asia region that really can accept well, maybe it's just Singapore or maybe the Philippines, the other is true, the word you are still hesitating about whether to accept or not. but they already know that their citizens are getting used to crypto. maybe the regulation that is going to be applied is still very thick with the fears of misuse.

[Arcas]

My country have make bitcoin become friendly with legal and available make bitcoin our comudity and invetsment assets, governmnet have allowed using bitcoin and altcoin as investment assets and could save for long time.

[fiulpro]

Not entirely , the financial minister just released a statement regarding the cryptocurrencies saying how their adoption rates , both globally and locally remains low .
Bitcoins is still not recognized a legal tender in Malaysia , the central bank is not dealing with it but at the same time people are actively buying and selling Bitcoins these and Making websites and writing about it.
Right now , I cannot say that they are crypto friendly , but I do think the situation is not as bad as other nations where cryptocurrencies are fully banned .

[imstillthebest]

Not entirely ,
Right now , I cannot say that they are crypto friendly , but I do think the situation is not as bad as other nations where cryptocurrencies are fully banned .

if they allow crypto use then they are a crypto friendly   . being restricted or banned is where its not consider a crypto friendly country    , never hear any major development in realation to crypto on this country not unlike to other asian countries where there are now btc atm , more adoption , more support from the merchants , etc  .  maybe malaysia were only late to accept crypto  thats why they are being left behind  but not too late to catch  up if they are really sincer of thier acceptance with cryptos  .

[Money_Wizard]

I think Malaysia has a chance at accepting crypto. Like any other country in Southeast Asia. At the moment, I haven't seen any news about this. But I think that Malaysia could become a country where crypto will be used everywhere (but this will require the approval of the authorities)

[kawetsriyanto]

I think Malaysia has a chance at accepting crypto.

Malaysia accepted cryptocurrency. Based on wiki and other sources, it is legal in Malaysia. But it may have some restrictions on several sectors. However, I think it is no problem as long as they are open with crypto and don't ban it.

At the moment, I haven't seen any news about this.

Just googling, mate. There are some articles that tell you about the current progress of crypto in Malaysia. I have some of them as following :
- https://www.asiablockchainreview.com/malaysia-implements-new-regulations-for-cryptocurrency-trading/
- https://blog.remitano.com/cryptocurrency-in-malaysia/

[Arkann]

There is really a lot of news that cryptocurrency is recognized at the state level in Malaysia, which is very good news not only for the citizens of this country, but for the entire cryptocurrency society.  Although there are certain nuances that indicate that the government will nevertheless introduce certain restrictions on the use of cryptocurrency in their country, it seems to me that users who live in this country and who use cryptocurrency on a large scale as payment will play an important role  funds and as an investment.

[Kasabus]

I think Malaysia has a chance at accepting crypto. Like any other country in Southeast Asia. At the moment, I haven't seen any news about this. But I think that Malaysia could become a country where crypto will be used everywhere (but this will require the approval of the authorities)

I have not heard about Malaysia and it's government but i do think this would be a crypto friendly just like some other countries. I don't see any problem if crypto would be soon to introduce in Malaysia as long as the government authorities will not ban the use of crypto and would be very willing to open their minds about the latest innovation and how this crypto works not just as a good investment but also as a good currency.

[Assface16678]

I think Malaysia has a chance at accepting crypto. Like any other country in Southeast Asia. At the moment, I haven't seen any news about this. But I think that Malaysia could become a country where crypto will be used everywhere (but this will require the approval of the authorities)

I have not heard about Malaysia and it's government but i do think this would be a crypto friendly just like some other countries. I don't see any problem if crypto would be soon to introduce in Malaysia as long as the government authorities will not ban the use of crypto and would be very willing to open their minds about the latest innovation and how this crypto works not just as a good investment but also as a good currency.

Cryptocurrency today is one of the best transactions today. Malaysia too is one of the fastest-growing countries and it is good to know that they are now accepting the use of crypto but still, they do not have any business today that will use the crypto because they need to have a lot of monitoring plans to make sure there is a secured and faster transaction but today there are only a few people use crypto on this country but does not use for their transaction because they are not fully verified about the whole process. Still, there are people and businessman uses the crypto for making an investment because they see the potential of the bitcoin to make more earning and use to their businesses.

[dupee419]

Malaysia is open yet not crypto friendly, perhaps there is a mutual relationship between cryptocurrency and Malaysia, but if Malaysia will be fully accepting cryptocurrency in their country then that I think will be the perfect opportunity for the citizens in Malaysia.

[pragna]

I think Malaysia has never been open to crypto before but now they want to open up the cryptocurrency business and improve their country's economy. It will definitely take time to turn it on If Malaysia launches cryptocurrency, its demand will increase and crypto will reach its peak of growth.

Crypto currencies in Asia are very open, Singapore, Indonesia, Japan, Thailand, Vietnam, South Korea and China strongly support crypto currencies, many crypto projects that were born from Asian countries, but many also ended sadly

Really!! this is exciting news for me but at the same time its sorrow matter that many projects ending sadly. Malaysia is technology more high at present stage and in future also it will lead to explore crypto.

[shushu9977]

It is really good for Malaysia. Now a days, we all of us know that the name of corona virus, not olny Malaysia but also all over the world need to use the crypto-currencies (like bitcoin, eth, xrp etc). If we touch any kind of money, it is very risky for creating or being corona-virus.     

[awik p]

I think Malaysia has never been open to crypto before but now they want to open up the cryptocurrency business and improve their country's economy. It will definitely take time to turn it on If Malaysia launches cryptocurrency, its demand will increase and crypto will reach its peak of growth.

Crypto currencies in Asia are very open, Singapore, Indonesia, Japan, Thailand, Vietnam, South Korea and China strongly support crypto currencies, many crypto projects that were born from Asian countries, but many also ended sadly

Really!! this is exciting news for me but at the same time its sorrow matter that many projects ending sadly. Malaysia is technology more high at present stage and in future also it will lead to explore crypto.

I think the people of Malaysia are heading to developed countries, where people think in a modern way, so it is natural that they will recognize cryptocurrency to support performance in various sectors for the smooth and development of their business. I think we will be able to see it soon that more Malaysians will know crypto

[Text]

In my opinion, the country of Malaysia is in need of foreign aid which has a huge influence on blockchain technology and cryptocurrency. Malaysia will soon be crypto-friendly as the Philippines. Maybe crypto is not very popular with them now because no one has popped it. The time will come for them to have their own exchange app wallet and services recognized by their central bank to have a license to operate.

[qory]

Not hear anymore which one country will launch bitcoin or won currency in the world and become legal payment currency transaction, when bitcoin still down many people not give positive respond and world is not hear with bitcoin, but waiting when bitcoin on the top price is the best way for accepting bitcoin.

[abhiseshakana]

Not hear anymore which one country will launch bitcoin or won currency in the world and become legal payment currency transaction, when bitcoin still down many people not give positive respond and world is not hear with bitcoin, but waiting when bitcoin on the top price is the best way for accepting bitcoin.

In my opinion, the country of Malaysia is in need of foreign aid which has a huge influence on blockchain technology and cryptocurrency. Malaysia will soon be crypto-friendly as the Philippines. Maybe crypto is not very popular with them now because no one has popped it. The time will come for them to have their own exchange app wallet and services recognized by their central bank to have a license to operate.

Currently, Malaysia is enjoying its demographic bonus, and most of the productive age in Malaysia has a university degree. No wonder if Malaysia's economic growth is very rapid, it's just that it is still dominated by conventional generation rather than millennial.

For entrepreneurs in the real sector not in the stock exchange, investing in cryptocurrency is not an alternative given the price volatility. In export transactions, several times I offer my buyers to pay in the form of bitcoin, but not the approval that I get but a long lecture and in my opinion that is suggested in the minds of the layman is only the highest and lowest crypto prices.

If the halving momentum cannot push up the price of bitcoin, it will be increasingly difficult for us to open up insights or educate ordinary people about cryptocurrency and maybe it's time we join CBDC's plan to popularize bitcoin to laypeople rather than in the bitcoin community.

[Text]

But it's not all about the price of bitcoin why anyone is interested in it. Like me, I found bitcoin in 2016 to be much lower than it is today. If Malaysians open their minds and see the value and help of this technology especially in online transactions, they will give them time to focus and study.

By the way, what is the CBDC's plan? what does that mean? can you provide more information?