Malaysia Will Not Adopt Bitcoin as Legal Tender, Government Says

Malaysia’s deputy finance minister has clarified that the government will not adopt cryptocurrency as legal tender.

“Cryptocurrencies like bitcoin are not suitable for use as a payment instrument due to various limitations,” he said.

Following reports that a high-ranking government official has proposed adopting cryptocurrency as legal tender in Malaysia, the government clarified in parliament Thursday that it has no intention of making cryptocurrency legal tender in the country, Bloomberg reported.

I am not surprised that they are scared. They do not know what Bitcoin offers. Other countries like El Salvador are accepting and gaining an influx of people that are interested in building bitcoin related Platforms in El Salvador. I have seen some crypto platforms like Point Network trying to gain access to El Salvador because of its pro stance on BTC.

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