{"id":7843,"date":"2025-01-15T16:03:56","date_gmt":"2025-01-15T16:03:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=7843"},"modified":"2025-01-15T16:03:56","modified_gmt":"2025-01-15T16:03:56","slug":"malaysias-prime-minister-anwar-ibrahim-advocates-for-expediting-crypto-blockchain-policies","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=7843","title":{"rendered":"Malaysia\u2019s Prime Minister Anwar Ibrahim Advocates For Expediting Crypto, Blockchain Policies"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Malaysia\u2019s Prime Minister Anwar Ibrahim announced plans to develop comprehensive policies for cryptocurrency and blockchain technology on 14 January 2025.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following his recent discussions with Binance co-founder Changpeng Zhao and leaders from the United Arab Emirates (UAE), Ibrahim is signaling the country\u2019s intent to position itself as a key player in the global digital economy.<\/span><\/p>\n<p>\u201cI had lengthy discussions with the Abu Dhabi leadership and Zhao, co-founder of the world\u2019s largest cryptocurrency platform Binance,\u201d revealed Ibrahim.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Malaysia&#8217;s new stance on blockchain. <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f44f.png\" alt=\"\ud83d\udc4f\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>The discussions were not about Binance but about the crypto industry and Malaysia, including regulations, policies, risks, and collaborations between industries and across national borders. Forward!<a href=\"https:\/\/t.co\/ppgrYA0ITH\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/ppgrYA0ITH<\/a><\/p>\n<p>\u2014 CZ <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f536.png\" alt=\"\ud83d\udd36\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> BNB (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1879421733058617566?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">January 15, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><b>Ibrahim Underlined The Urgency Of Embracing Innovation<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Ibrahim returned to Malaysia after a three-day visit to Abu Dhabi, where he engaged in extensive talks about the future of digital finance and technology.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe now face demands which require us to think about making significant changes,\u201d said Ibrahim while <a href=\"https:\/\/www.nst.com.my\/news\/nation\/2025\/01\/1160917\/pm-govt-exploring-policy-crypto-blockchain-tech\" target=\"_blank\" rel=\"nofollow\">speaking to reporters.\u00a0<\/a><\/span><\/p>\n<p><span style=\"font-weight: 400\">He also insisted on the importance of adapting to emerging technologies like cryptocurrency, blockchain, artificial intelligence (AI), and data centers.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The PM revealed that he has directed key government agencies, including the Treasury, Securities Commission, and Bank Negara (Malaysia\u2019s central bank), to explore how Malaysia can stay competitive in the rapidly evolving crypto industry.\u00a0<\/span><\/p>\n<p>\u201cI proposed several months ago how our agencies, including security, treasury and Bank Negara study how Malaysia can explore this so we aren\u2019t left behind,\u201d said Ibrahim. \u201cEnsuring that it is regulated could safeguard the people\u2019s interests and prevent leakages.\u201d<\/p>\n<p><span style=\"font-weight: 400\">This directive aims to ensure that Malaysia does not fall behind other nations that are actively fostering crypto-friendly ecosystems.<\/span><\/p>\n<p>\u201cThis will be a radical departure from the old ways,\u201d he added. \u201cI hope we can be more open to this. I am leaning towards not just approving but also expediting this.\u201d<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/malaysias-mx-global-exchange-receives-regulatory-approval-for-worldcoin-wld-trading\/\" rel=\"bookmark\">Malaysia\u2019s MX Global Exchange Receives Regulatory Approval For Trading Worldcoin, A Biometric Crypto<\/a><\/strong><\/p>\n<h2>\u201cWe feel that Malaysia should not be left behind while mired in an old financial system\u201d<\/h2>\n<p><span style=\"font-weight: 400\">Ibrahim announced plans to draft a comprehensive policy paper on cryptocurrency and blockchain technology. Furthermore, it will be presented to the Malaysian cabinet for review and approval. <\/span><\/p>\n<p><span style=\"font-weight: 400\">He stressed that regulations are crucial not only for fostering innovation but also for safeguarding public interests and preventing potential financial risks such as fraud or misuse.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis innovation is just like AI, which would revamp the financial world. We should not sit idly by and wait and later be forced to do so after others have done it already,\u201d Ibrahim said.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f1f2-1f1fe.png\" alt=\"\ud83c\uddf2\ud83c\uddfe\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Did You Know- Malaysia ranks 10th globally for crypto ownership, with 14.3% of its population holding digital assets!<\/p>\n<p>Malaysians are also big on NFTs, with 24% of crypto users owning one\u2014right behind the Philippines &amp; Thailand.<\/p>\n<p>From DeFi growth to NFTs, Malaysia\u2019s making\u2026 <a href=\"https:\/\/t.co\/fKZxnFFhir\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/fKZxnFFhir<\/a><\/p>\n<p>\u2014 Lisk (@LiskHQ) <a href=\"https:\/\/twitter.com\/LiskHQ\/status\/1845846478155296791?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 14, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><span style=\"font-weight: 400\">Prime Minister Ibrahim expressed his intent to collaborate with international partners, particularly the UAE, which has emerged as a global leader in crypto regulation.<\/span><\/strong><\/p>\n<h2 class=\"page-title\">Malaysia\u2019s Regulators Recently Shut Down Bybit Operations<\/h2>\n<p>Recently, popular crypto exchange Bybit was forced to shut down its operations in Malaysia. The Securities Commission Malaysia (SC) took action against Bybit and its CEO, Ben Zhou, citing the exchange\u2019s failure to register as a Recognized Market Operator (RMO).<\/p>\n<p>The SC ordered Bybit to disable its website and mobile applications by 25 December 2024.<\/p>\n<p>Furthermore, the company was asked to cease all promotional activities targeting Malaysian investors and shut down its local Telegram support group immediately.<\/p>\n<p><span style=\"font-weight: 400\">This incident underscores the need for a well-defined regulatory framework that balances innovation with consumer protection. Ibrahim acknowledged these concerns but urged stakeholders to adopt an open-minded approach. <\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cAs with all new ideas raised, there will be some concerns. We have to train our personnel, develop competency, and get the players to participate,\u201d he said.<\/span><\/p>\n<p><strong>Related: <a href=\"https:\/\/99bitcoins.com\/news\/why-was-bybit-ordered-to-cease-operations-in-malaysia\/\" rel=\"bookmark\">Why Was Bybit Ordered To Cease Operations In Malaysia?<\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/malaysias-prime-minister-anwar-ibrahim-advocates-for-expediting-crypto-and-blockchain-policies\/\">Malaysia\u2019s Prime Minister Anwar Ibrahim Advocates For Expediting Crypto, Blockchain Policies<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Malaysia\u2019s Prime Minister Anwar Ibrahim announced plans to develop comprehensive policies for cryptocurrency and blockchain technology on 14 January 2025.\u00a0 Following his recent discussions with Binance co-founder Changpeng Zhao and leaders from the United Arab Emirates (UAE), Ibrahim is signaling the country\u2019s intent to position itself as a key player in the global digital economy. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-7843","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7843"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7843\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}