The Securities Commission Malaysia (SC) has welcomed Malaysian Prime Minister Anwar Ibrahim’s announcement, mentioned during his official visit to Abu Dhabi, to explore a digital finance policy that recognizes cryptocurrency and blockchain technology.

SC said in a statement on Thursday that the initiative is in line with the SC’s key priorities to position Malaysia as a key player in the global digital finance landscape, complementing Malaysia’s digital transformation agenda.

The SC Chairman Mohammad Faiz Azmi said that the SC has been actively shaping the regulatory landscape for digital assets, including cryptocurrency, since 2019.

Since then, the regulated digital asset market comprises a diverse range of players including digital asset exchanges, initial exchange offering operators, fund managers and custody service providers.

“We are ready to work with all relevant agencies, including Bank Negara Malaysia, to further develop Malaysia as an innovative and responsible digital finance hub,” he said.

It was reported on Wednesday that Anwar revealed that he had held discussions with the UAE government, as well as cryptocurrency and blockchain giant Binance to explore the idea of drafting a policy on digital finance.

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