Cryptocurrency Still a Gray Area in Malaysia After Government Deems It ‘Neither Legal nor Illegal’

Malaysia’s government still hasn’t made up its mind on what to do with cryptocurrencies. The country’s finance minister last year warned companies not to issue new tokens, while waiting on the central bank to give clear advice. But Malaysia’s Federal Territories Minister this week said that the government is undecided on whether cryptocurrencies are legal or not. A Legal Gray Area Khalid Abdul Samad, Malaysia’s Federal Territories Minister, has said using cryptocurrency is “neither legal nor illegal.” The government is still considering the matter, he added, saying he could not push for a decision to be made. “People have asked me if these currencies are legal or illegal,” local media quoted him as saying. “At the moment, the answer is neither legal nor illegal as the situation is still unclear.” Samad was involved in the invention of the harapan coin – a token invented to raise political funding for Malaysia’s…

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