In the parliament meeting held on Monday, Deputy Minister of Communications and Multimedia, Zahidi Zainul Abidin discussed the adoption of cryptocurrencies such as Bitcoin and Ethereum to be used as legal tender.
The Ministry of Communications and Multimedia has overseen many new tasks focused on rolling new technologies such as the 5G mobile network.
A core criterion is to adopt new tech in order to attract investment opportunities.
“We hope the government can allow this. We are trying to see how we can legalize this so that we can develop youth participation in crypto and assist them,” said Zahidi at the parliament meeting.
Cryptocurrencies, however, will fall under the watch of Ministry of Finance.
The finance ministry has sole jurisdiction over digital financing which is regulated under the central bank.
As of now, the central bank has yet to make any comments on accepting cryptocurrencies in the future.
