Malaysian comms official calls on the state to legalize crypto and NFTs

[newshunter]

Malaysian comms official calls on the state to legalize crypto and NFTs

Malaysia’s finance minister previously warned that crypto payments were illegal, as they did not meet the universal characteristics of money.

Source: Malaysian comms official calls on the state to legalize crypto and NFTs

Would appreciate your opinion about this

[TomPluz]

Well, the time has come for some of those in power to really realize that crypto can be unstoppable and they better take advantage of the opportunity now...even including NFTs. They can regulate it and make it a big source of tax revenues as well for a win-win formula that crypto industry and the government can work on. And I am glad to note that one reason cited is the heavy involvement of the youth sector with the crypto industry...so maybe they are now really seeing the potential of crypto into the future.

[Freemind]

The governments of many countries are beginning to realize that there is no way to stop cryptocurrencies and that countries can benefit from allowing them through the application of taxes. Yesterday there was a news in my country that said that citizens must declare their cryptocurrencies, and that if the total amount exceeds $6,000, a 19% tax will be applied. It is clear that many countries are moving quickly on regulation and that is something I applaud. Many more countries will do so in the near future.

[royalfestus]

I expect crypto to thrive after the Russian war. the economic fight could open the eyes of many countries to put their saving or storage in bitcoin and stable coin to preverse the countires treasury.

[Freemind]

I expect crypto to thrive after the Russian war. the economic fight could open the eyes of many countries to put their saving or storage in bitcoin and stable coin to preverse the countires treasury.

It is difficult to predict what will happen, especially considering that we do not know how long the current situation can last. Cryptocurrencies may be stronger and have a better reputation after the war, but what is clear is that the invasion has not negatively affected the market. I even think that, in a way, cryptocurrencies can come out stronger from this situation. Whatever happens, I hope all this ends soon and people stop dying, it's something I can never understand.