Stealing the spotlight at today's Dewan Rakyat session, former Malaysian Prime Minister Najib Razak's speech attracted the attention of many, especially for local investors and traders.
This is in relation to his comments on stock investment and also the proposal for the government to open up space to external crypto platforms into the country.
After commenting on the proposal for the government to finance up to 70% of share purchases for every citizen who invests, he also touched on cryptocurrency investment.
In order not to keep up with the latest trends in global financial markets, Malaysia should not ignore the opportunity to generate national income through cryptocurrency exchange after several foreign countries have started taking early steps to allow such business operations.
According to him, the Securities Commission Malaysia (SC) has already approved 4 crypto trading platforms since 2019, namely Luno, Tokenize, Sinegy and also MX Global to allow Malaysians to buy and invest crypto assets in Ringgit.
However, this effort needs to be further expanded with cooperation with external platforms to facilitate and encourage foreign investors or crypto holders to bring in their crypto investment assets into the country.
This is aimed at bringing in crypto asset investments into Malaysia as opposed to the outflow of local investors to the outside.
Najib gave examples of bold steps such as Switzerland, Australia and Korea against the investment of these cryptocurrencies and countries should not delay to seize the opportunity.
His proposal received various reactions from the community and the average local financial market group welcomed the opportunities in this crypto technology.
Previously, crypto investments were often tainted with negative perceptions by the public due to the fraudulent schemes that lurk behind these investments resulting in many incurring losses.
Thus, the proposal by Najib Razak which is synonymous with the title 'Bossku' is seen to open the views of many parties about the great opportunities in crypto technology that is moving forward not only for the country, but also to benefit the people.
