It is not even a year since El Salvador decided to legalize Bitcoin as legal tender, and we have more and more articles on this topic lately, and we think it is only a matter of time before another country emerges to follow in the footsteps of El Salvador. According to the latest reports, it could be Malaysia, as it is the Deputy Minister of Malaysia that calls for the legalization of Bitcoin. As Bloomberg confirms, Zahidi Zainul has expressed his support for the legalization of Bitcoin and cryptocurrencies as such, and many people believe that this topic will become more and more on the table.
The parliament also said that the country has been testing its own CBDC since September last year. In addition, the Central Bank of Malaysia announced in January that it was working to take the necessary measures “should the CBDC be issued in the future. The CBDC can be monitored by the government, and as we know, this is not the case with cryptocurrencies, which is why the government remains cautious on this issue. For El Salvador, the decision to officially legalize Bitcoin has so far proved fruitful as tourism grows in the country. However, the Malaysian economy is much further ahead and its citizens earn on average much more than the people of El Salvador. At the moment, however, it is still only a suggestion and we will have to wait for more information.