A Malaysian ministry has proposed that crypto currencies such as bitcoin be accepted as legal money by the Malaysian government.
According to malaysian ministry Zahidi Zainul Abidin, who spoke to Parliament on Monday.
“We’re hoping the government will agree,” Zahidi remarked.
“We’re trying to figure out how to make this legal so that we can encourage youth to participate in crypto and help them.”
Such steps, according to Zahidi, would benefit young people greatly, as the bitcoin industry has grown in popularity among the younger population.
He also stated that the KKMM is looking into measures to expand the number of young people working in the business.
“Digital assets are not a good store of value or a means of trade in general.”
This is due to “volatile price changes due to speculative investments, the risk of theft due to cyber threats, and the lack of scalability” of digital assets.