Central Bank of Malaysia Cautions Public of Bitcoin Risks

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Last Updated: October 7, 2020 11:40 am

1 min read

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In what is probably starting to be the “cool” thing to do, yet another central bank has come forth and issued a statement on the perils of bitcoin.

This time around, it’s the Central Bank of Malaysia, Bank Negara Malaysia. In a three-sentence statement, the bank virtually swatted down bitcoin as if it were a pesky fly, stating immediately that it does not recognize bitcoin as legal tender in Malaysia.

The Bank does go on to mention that bitcoin shall not be regulated, which for some is great news, and perhaps not-so-great news for others (who know nothing about it).

“The public is therefore advised to be cautious of the risks associated with the usage of such digital currency,” the statement reads. (via CoinDesk)

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