According to NST, Malaysian Prime Minister Datuk Seri Anwar Ibrahim met with Binance founder and former CEO Zhao Changpeng along with Abu Dhabi leaders during his visit to Abu Dhabi. Anwar announced plans for a more open approach to cryptocurrencies and blockchain technology. He emphasized that the aim is not only to approve these processes but also to expedite them.
Preparations Begin for Digital Finance Policy
Anwar revealed that Malaysia will take steps to develop a digital finance policy. This initiative could lead to the official recognition of cryptocurrencies and blockchain technology in Malaysia. He stated that during discussions with the Abu Dhabi administration and Binance, he addressed topics such as digital transformation, data centers, and artificial intelligence.
Anwar suggested that commissions, security units, the Treasury, and Bank Negara must work to ensure Malaysia does not fall behind in this area. He stated that this process should be organized to protect the public’s interests and prevent financial leaks. Anwar noted that he will consult with cabinet members on this matter and prepare a comprehensive policy proposal.
Malaysia Draws Inspiration from Leading Cryptocurrency Countries
Prime Minister Anwar highlighted the leadership role of the United Arab Emirates (UAE) in the cryptocurrency and blockchain sectors. He expressed that the UAE is ready to collaborate with Malaysia in this regard, stating, “We must leave old business models behind and give meaning to digital finance policy.”
Anwar emphasized that Malaysia will not start from scratch but will learn from leaders like Binance and the UAE. He stated, “This transformation is happening rapidly. We must keep pace. We cannot remain stuck in old financial systems.”
The Malaysian government is expected to prioritize staff training, skill development, and involving stakeholders in this innovative initiative. Anwar underscored that this will represent a radical break from old methods.
The Prime Minister also added that the draft report on the digital finance policy will be presented to the cabinet soon.
