15-1-2025 (KUALA LUMPUR) Malaysian Prime Minister Anwar Ibrahim has announced plans to develop comprehensive cryptocurrency and blockchain policies following productive discussions with former Binance chief Changpeng Zhao and Abu Dhabi officials.
The Premier, fresh from a three-day diplomatic visit to the United Arab Emirates, signalled his government’s intention to position Malaysia at the forefront of the digital economy revolution, emphasising the urgent need for regulatory frameworks to prevent the nation from lagging behind global technological advances.
During a press briefing in Kuala Lumpur, Ibrahim revealed he had engaged in extensive dialogue with both UAE government representatives and the erstwhile Binance CEO, known widely as “CZ”, focusing on emerging technologies including blockchain, artificial intelligence, and digital transformation strategies.
“We find ourselves at a crucial juncture where significant adaptations are necessary,” Ibrahim told journalists. “The technological landscape is evolving rapidly, and Malaysia must evolve with it.”
In a decisive move, the Prime Minister has directed key financial institutions, including Bank Negara (Malaysia’s central bank), the Treasury, and the Securities Commission, to conduct thorough assessments of the cryptocurrency sector’s potential impact on the nation’s financial ecosystem.
Ibrahim pledged to expedite the development of a comprehensive policy paper for cabinet consideration, highlighting the dual objectives of fostering innovation whilst protecting public interests. “We must establish robust regulatory guardrails to prevent financial impropriety whilst embracing these transformative technologies,” he stated.
The Prime Minister drew parallels between cryptocurrency and artificial intelligence, describing both as revolutionary forces reshaping global finance. “We cannot afford to adopt a wait-and-see approach,” Ibrahim cautioned. “Proactive engagement with these technologies is essential for Malaysia’s future competitiveness.”
