According to reports from Dey There, Malaysian Prime Minister Datuk Seri Anwar Ibrahim met with Binance founder Zhao Changpeng and Abu Dhabi leaders during his visit to the UAE. Anwar emphasized Malaysia’s commitment to adopting a more open approach to cryptocurrencies and blockchain technology, aiming to not only approve but also expedite these processes.
Malaysia Prepares for Digital Finance Policy
Prime Minister Anwar announced Malaysia’s plans to develop a comprehensive digital finance policy, which could lead to the official recognition of cryptocurrencies and blockchain technology in the country. During discussions with Abu Dhabi officials and Binance, topics such as digital transformation, data centers, and artificial intelligence were highlighted.
“I have urged our commissions, security units, the Treasury, and Bank Negara to ensure Malaysia doesn’t fall behind in this area,” said Anwar. He added that any policies developed must protect public interests and prevent financial leaks. Anwar also confirmed plans to consult his cabinet and prepare a detailed policy proposal.
Malaysia Draws Inspiration from Blockchain Leaders
Anwar pointed to the UAE’s leadership in blockchain and cryptocurrency as a model for Malaysia. He highlighted the UAE’s readiness to collaborate on innovative projects, stating, “We must leave behind outdated business models and bring meaning to our digital finance policy.”
The Prime Minister emphasized that Malaysia will not start from scratch, benefiting from the experience of leaders like Binance and the UAE. “This transformation is happening rapidly, and we must act at the same pace. We cannot remain tied to outdated financial systems,” Anwar remarked.
Malaysia’s government plans to prioritize staff training, competency building, and stakeholder engagement in its push for a modern financial ecosystem. Anwar described the initiative as a radical departure from traditional methods, with a draft policy expected to be submitted to the cabinet soon.
Conclusion
As Dey There reports, this groundbreaking collaboration signals Malaysia’s ambition to embrace blockchain and cryptocurrency technologies. With partnerships and lessons from global leaders, the country aims to position itself as a forward-thinking player in the digital finance space.
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