The central bank of Malaysia “Bank Negara” is to publish a “conceptual document” in which he will ask the public about the fate of cryptocurrencies in the country. Negara bank director Muhammad Ibrahim assured that the bank will neither ban nor decide for itself the fate of this technology


During 40th anniversary of the Graduate Club of the Harvard Business School of Commerce School in Malaysia, the Bank’s director negara Muhammad Ibrahim said:

I do not see a problem to kryptowaluty in our country they were not supposed to develop, but we are willing to cooperate, project teams are to ensure transparency and ease of use, citizens will decide themselves whether they want to invest in kryptowaluty or not

Malaysia in recent years has been an economic tiger compared to other countries, its economy developed faster than the stronger cousins ​​of the South Korean region, and even outperformed France and Australia. His government is extremely open to new technologies. Politically occupying a strange space in Southeast Asia, his government is elected through the constitutional electoral monarchy. Something similar to the Westminster system, the king is elected by hereditary families, and acts as the ceremonial head of state, appointing members of the upper house of parliament and ministers.

Ibrahim’s comments are followed by finance minister Johann Abdul Ghani who explained that this country would never have been forbidden cryptocurrency to avoid restrictions and even backwardness, he said: Creativity and innovation in the financial sector are our goal in December last year, the central bank developed guidelines on cryptocurrency for citizens and entrepreneurs.

Do you think that the central bank will keep its word and carefully listens people? Let us know in the comments section below.