In the latest report based on an interview the Securities Commission (SC) has approved Bitcoin Cash (BSH) as a digital asset in Malaysia. This is good news because Malaysians can now buy or sell BSH in a legitimate crypto platform. With this, five types of crypto assets are allowed, namely Bitcoin (BTC), Ethereum (ETC), Ripple (XRP), Bitcoin Cash (BSH) and Litecoin (LTC).
This was stated personally by SC Executive Director of Digital Strategy & Innovation, Chin Wei Min, in an interview with Fintech News Malaysia. In the interview, Chin informed that Malaysia only started with 3 crypto assets and has now grown to 5 crypto assets within one year due to market demand.
Not only that, Chin also noted that the SC is also open to approving more digital assets in the future. Chin said Bitcoin Cash is the fifth digital asset approved even temporarily.
For your information, so far Malaysia only allows 3 crypto exchange platforms, namely Luno, SINEGY and Tokenize. This is to address the problem of fraud and reduce the risk of money laundering. At the same time the public is also advised and warned by the SC not to trade in illegal platforms.
BCH became among the crypto of choice as it is believed to be one of the best crypto for payments.
Currently, Bitcoin Cash is worth RM3,205, while Bitcoin is currently worth RM202,906.
