Malaysia's Deputy Finance Minister: Crypto Not Suitable as Means of Payment or Store of Value
Noting that cryptocurrencies are not a payment instrument regulated by the central bank, Bank Negara Malaysia, the deputy finance minister said: “This is due to the state of digital assets which is exposed to volatility as a result of speculative investments,” he added. The deputy finance minister also explained that cryptocurrencies are not suitable as a means of payment because they “do not exhibit characteristics of money.”
Also, what is important is the huge impact on the environment because the electrical power that is used to process one bitcoin transaction can process 1.2 million Visa transactions.
Cryptos are regarded as securities and are regulated by the Securities Commission in Malaysia
Governments are not in obligation to make sense to you. So, anytime sooner or later bitcoin will disapear of the face of the planet. bitcoin is ponzi. bitcoin is worthless. bitcoin is nothing
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I thought it is. In some cases
But it works as a money
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This person not even recognized by Malaysian coz i am Malaysian! Who's this? 😂😂😂 . So doesn't bother even if he wanna say btc is a ponzi scheme. GTH fcker.
Sanity prevails but you won't find this re tweeted too much 🙄
Ringgit is worst
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Because they can't regulate it That's why is not good for mode of payment And store of value Bitcoin is the future and is Neutral
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He simply said two lines without any genuine reason
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Yeah. Go against it.
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the only problem is the loss of value between the real world and the virtual world, I had 1000 , today I only have 700, compared to the two worlds. for immediate use is risk, long term, it has been proven that it is valid in BTC
And almost nobody knows what is Malaysian money and noone can uses it outside of Malaysia
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Source: Cointelegraph - 🏆 562. / 51 Read more »