Cryptocurrency Q&A
Why is crypto banned in Malaysia?
Why is crypto banned in Malaysia?
Ilaria
Wed May 08 2024
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6 answers
1063
I'm curious, why has Malaysia banned cryptocurrency? As a professional practitioner in the field of cryptocurrency and finance, I'm surprised to see such a move from a country that has previously expressed interest in blockchain technology. Given the potential benefits of cryptocurrencies in terms of transparency, efficiency, and borderless transactions, I find it puzzling that Malaysia would choose to prohibit their use. Could you explain the reasons behind this decision and how it aligns with the country's long-term economic goals?
6 answers
SejongWisdomKeeperElite
Fri May 10 2024
It still categorizes them as a type of security.
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CherryBlossomBloom
Fri May 10 2024
Cryptocurrency adoption is experiencing a global surge.
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Lucia
Fri May 10 2024
Malaysia is among the countries where this trend is evident.
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StormGlider
Fri May 10 2024
Although the country does not recognize digital assets as legal tender.
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TaegeukChampionCourage
Thu May 09 2024
BTCC, a cryptocurrency exchange headquartered in the UK, offers various services.
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