Malaysia mulls crypto policy after talks with UAE and Binance founder CZ
The Malaysian government is considering a cryptocurrency policy to modernize its financial system. Prime Minister Anwar Ibrahim discussed a regulatory framework with officials from Abu Dhabi and Binance founder Changpeng Zhao. Anwar highlighted the necessity for Malaysia to adopt cryptocurrency-friendly regulations to stay aligned with global financial trends, describing the initiative as a "radical departure from the old ways." Policymakers in the UAE expressed willingness to collaborate with Malaysia on this approach. Comprehensive studies by various Malaysian authorities, including the Treasury and Bank Negara Malaysia, will be needed to address potential concerns. This initiative follows recent scrutiny from Malaysia's securities regulator, which ordered Bybit to cease operations for being unregistered and added Atomic Wallet to its investor alert list, alongside other unregistered platforms.
