Malaysia Prime Minister, Anwar Ibrahim, recently said he wants to include crypto and blockchain technology in the country’s plans. He made this statement after visiting Abu Dhabi for three days, where he met Binance co-founder Changpeng Zhao (CZ) and officials from the Abu Dhabi government.
Malaysia to Keep up in the Fast-changing Crypto Industry
According to a report, Ibrahim’s recent visit emphasized the need for Malaysia to keep up in the fast-changing crypto industry.
He affirmed that Malaysia must adopt modern digital assets and blockchain technology policies to remain competitive globally. He also instructed key government agencies, including the Treasury, the Securities Commission, and Bank Negara Malaysia, to study the crypto sector.
They will also explore how the country can adapt to global changes. Meanwhile, Minister Ibrahim is working on a policy paper to regulate and oversee crypto and blockchain technologies. He will present this paper to Malaysia’s cabinet for approval soon. Ibrahim believes these policies are important for economic growth and for protecting the interests of the Malaysian people.
If these policies are put in place, Malaysia could become a leader in the digital economy in the region. This would attract investments and create a strong crypto ecosystem while keeping consumers safe and ensuring the rules are followed.
The Creation of a Crypto Advisory Council
MicroStrategy’s Chairman and Bitcoin advocate Michael Saylor recently shared his willingness to join America’s new political era.
Saylor mentioned that he is ready to participate should President-elect Donald Trump establish a crypto advisory council. Notably, Trump’s crypto journey takes shape with the announcement of a potential crypto advisory council.
While details remain scarce, some industry leaders seek to engage with the incoming administration.
If established, the council will help shape future crypto policies. Recall that Trump has appointed pro-crypto executives for significant positions in his incoming administration. These moves are expected to impact the direction of crypto regulation positively in the U.S.
Countries Becomes Crypto Hub
Dubai stood out as the top destination for crypto businesses in 2024, with an overall score of 79.
The city’s success is attributed to its regulatory clarity and the absence of capital gains tax. Also, the city’s proactive stance in fostering the blockchain ecosystem has quickly solidified it as a global crypto hub. Switzerland came in second on the list with a score of 75. Meanwhile, South Korea rounds out the top three crypto destinations with a score of 73.5.
While Dubai, Switzerland, and Soth Korea top the list, several other countries are making strides toward becoming crypto-friendly destinations.
Singapore ranks fourth, scoring 72, and is strongly committed to supporting crypto businesses through an $8.9 million blockchain grant. The United States and Portugal also stand out due to their contribution to crypto adoption.
