The growth of the cryptocurrency industry is undeniable as many developing countries begin to present appropriate oversight of these digital assets.
Recently, Deputy Minister of Communications and Multimedia, Datuk Zahidi Zainul Abidin urged the government to accept the legal use of cryptocurrencies in Malaysia as the majority of youths are active in this field, especially non-fungible token (NFT) trading.
For the record, the statement was in response to a question from MP Syed Ibrahim Syed Noh (Ledang-PH) regarding the government's stance on NFT trade which was a topic in the Dewan Rakyat today.
Nevertheless, the implementation of supervision on cryptocurrencies is under the jurisdiction of Bank Negara Malaysia and the Securities Commission Malaysia.
Following that, Datuk Zahidi hoped that the government would give permission and accept the presence of this crypto technology so that the youths who are active in NFT can be helped in terms of energy consumption and so on.
In fact, he also assured serious scrutiny of this new space because "it is a form of business and financial program of the future, especially for young people now".
If the government approves the proposal, there is potential for Malaysia to continue to grow in terms of the economy and the use of crypto technology, especially NFT.
