Malaysian Deputy Finance Minister Datuk Mohd Shahar Abdullah denied the rumors about Bitcoin adoption.
Abdullah stated that due to volatility, Bitcoin cannot serve as a means of payment, and noted that the country does not have such a plan.
Earlier this week, Zahidi Zainul Abidin, deputy minister of the Ministry of Communications and Multimedia in Malaysia, submitted a proposal for the legal adoption of Bitcoin. According to the government official, such a move will involve more young people in the crypto industry. However, this argument does not seem to have been accepted by the Ministry of Finance.
The country, despite being reluctant to adopt Bitcoin, has started working on the “Dunbar Project”, which will use multiple CBDCs to settle international agreements.
Yesterday, the Central Bank of Honduras denied claims to adopt Bitcoin.
The back-to-back denials from Honduras and Malaysia seem to have misled those who thought the move would create a domino effect after El Salvador’s adoption of Bitcoin.
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