THE Communications and Multimedia Ministry today proposed for cryptocurrencies to be recognised as legal tender to help the younger generation, who are their active users.

Deputy Communications and Multimedia Minister Zahidi Zainul Abidin said the ministry will look into ways to increase the youth’s involvement in digital currencies as it is the future of finance.

“All this is under the purview of Bank Negara Malaysia and the Securities Commission.

“We hope the government will allow and legalise this so that we can increase the youth’s uptake of cryptocurrencies,” he said.

Zahidi said this in the Dewan Rakyat today in reply to a supplementary question from Syed Ibrahim Syed Noh (Ledang-PH) on the government’s stand on trading on cryptocurrency exchanges, which is increasingly popular, especially among the younger generation.  – Bernama, March 21, 2022.