The Malaysian government is considering the possible implementation of a crypto policy that would recognize the sector and modernize the country's financial system, local media have reported.
Malaysian Prime Minister Datuk Seri Anwar Ibrahim recently discussed the possibility of creating a regulatory framework for cryptocurrencies with officials from Abu Dhabi and Changpeng "CZ" Zhao, founder and former CEO of Binance.
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Anwar has stressed the importance of adopting crypto friendly regulation to keep up with global financial developments.
During his three-day visit to Abu Dhabi, Anwar stated:
"I had lengthy discussions with the Abu Dhabi leadership and Changpeng Zhao, co-founder of the world’s largest cryptocurrency platform, Binance. This is an evolution which happens quickly and requires us to be equally fast."