The Public Will Decide Cryptocurrencies’ Future

The head of Malaysia’s central bank has firmly stated that the fate of cryptocurrencies in the country depends on the public adopting them, adding it would neither ban nor recognize cryptocurrency. Speaking at the 40th-anniversary dinner of the Harvard Business School Alumni Club of Malaysia this month, Bank Negara governor Muhammad Ibrahim had some noteworthy things to say about the future of cryptocurrencies like bitcoin in Malaysian society, according to a report by local portal The Nation. The central banker, refreshingly, revealed a decidedly free-market stance on cryptocurrencies wherein a hands-off approach would essentially see the public make their own decisions with investments or participation in cryptocurrency markets. “Basically, we will let the cryptocurrency promoters including bitcoin, Ethereum and ripple to be more transparent, the methods to be more transparent and people behind the scene are to be more transparent too,” the central bank chief stated, hinting at introducing some fundamental guidelines for the cryptocurrency sector to operate in Malaysia.


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