Malaysian Prime Minister Datuk Seri Anwar Ibrahim is exploring the possibility of establishing a cryptocurrency policy that could recognize the industry and modernize the nation's financial system.
During a recent visit to Abu Dhabi, Anwar discussed a potential crypto regulatory framework with officials and Changpeng "CZ" Zhao, the founder of Binance.
Anwar emphasized the need for Malaysia to adopt cryptocurrency-friendly regulations to keep pace with global financial developments, stating that a "radical departure from the old ways" is necessary.
While policymakers in the UAE expressed interest in collaborating with Malaysia on crypto regulation, Anwar acknowledged the need for further comprehensive studies from Malaysian authorities, including the Treasury, the Securities Commission, and Bank Negara Malaysia.
This move comes amidst increased scrutiny from the country's securities regulator. In recent months, the regulator has ordered major crypto exchange Bybit to cease operations and added several major industry players, including Atomic Wallet, KuCoin, and MEXC, to its investor alert list for operating without registration.
January 2025, Cryptoniteuae