Mahathir welcomes cryptocurrency, Malaysia News

KUALA LUMPUR – Tun Dr Mahathir Mohamad has welcomed the proposal to use a unified cryptocurrency for the Muslim world.

The Prime Minister said he suggested the idea of a unified currency for Muslim nations a long time ago, but could not implement it due to sanctions by superpowers.

“We can’t always use the US dollar as we see the use of US dollar will make us too dependent on the US, which can impose sanctions against us and will affect our economic growth.

“This is the first time we are hearing this idea coming from Iran and Turkey; if we don’t have the US dollar, we can use our own currency or we can create a common currency if we agree,” he told a press conference after the roundtable session of the Kuala Lumpur Summit 2019.

Without naming any superpower, Dr Mahathir said his idea to introduce such currency had been thwarted a few times.

“This is because when we use a country’s currency, it will give them strength. Actually if we look at the US, they are already bankrupt…