World Bank: Malaysian digital asset law is pragmatic

The Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019, which comes into force today, is a pragmatic approach by the authorities to regulate digital currencies and assets, says the World Bank.

World Bank Group’s Macroeconomics, Trade and Investment lead economist, Richard Record said the digital economy and disruptive technologies provide a lot of opportunities for developing countries, including Malaysia.

“However, it also comes with risks. Therefore, it is important to be careful and have prudent regulations, especially in the area of financial markets, to ensure consumers are protected.”