RATE Group | Central Bank has Final Say on Cryptocurrency Issuance: Malaysia’s Finance Minister
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Central Bank has Final Say on Cryptocurrency Issuance: Malaysia’s Finance Minister

26 Nov Central Bank has Final Say on Cryptocurrency Issuance: Malaysia’s Finance Minister

Posted at 12:13h in Cryptocurrency News by

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Lim Guan Eng



Malaysia has indicated that the country’s central bank has the last word regarding the introduction of new cryptocurrencies.

According to the Minister of Finance, Lim Guan Eng, the country’s central bank Bank Negara Malaysia (BNM), will have to be consulted regarding cryptocurrency projects as the final decision rests with the apex bank.

“This is where I wish to advise all parties, no matter who they are, intending to issue bitcoins or cryptocurrency, that they must refer to Bank Negara which is the authority that will have the final say on this new form of currency,” The Star reported Lim as having said while answering a question in parliament Monday.

Noting that the government was not against new currency forms, Lim insisted that existing laws would have to be followed.

“Don’t do it without Bank Negara’s guidelines or directive on the matter to avoid doing something wrong and against the law,” added Lim.

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