Malaysian Minister Yamani Hafez Musa failed to give something specific that bitcoin and ethereum lacks to be used as a money. Just attributing volatility with ethereum and bitcoin stating these assets doesn't exhibit characteristics of money is simply a way to escape from adoption and support the development of country owned CBDC.
To be blunt, that country is a joke, especially when it comes to adopting new technology.
Red tapes, cronyism, you name it, they have it. Meanwhile neighboring countries like Singapore are hubs of some big names like CDC.