Malaysia’s PM Discusses Crypto With Binance’s CZ — Shaping Policies to Stay Competitive

CN
13 hours ago

Malaysian Prime Minister Datuk Seri Anwar Ibrahim has unveiled his country’s intention to adopt a progressive stance on blockchain and the crypto industry, focusing on regulations, policies, and cross-border collaborations. Speaking at the Abu Dhabi Sustainability Week (ADSW) 2025, Anwar emphasized the need to modernize Malaysia’s financial systems. He referenced discussions with Abu Dhabi’s leadership and former Binance CEO Changpeng Zhao (CZ).

“I had lengthy discussions with the Abu Dhabi leadership and Changpeng Zhao, co-founder of the world’s largest cryptocurrency platform Binance,” Anwar stated. He proposed that key agencies, including the central bank, conduct studies to explore digital finance, stating:

I proposed several months ago how our agencies, including security, treasury and Bank Negara study how Malaysia can explore this so we aren’t left behind. Ensuring that is regulated could safeguard the people’s interests and prevent leakages.

Adding clarity, CZ took to social media platform X to elaborate on the nature of the discussions. The former Binance boss said:

Malaysia’s new stance on blockchain. The discussions were not about Binance but about the crypto industry and Malaysia, including regulations, policies, risks, and collaborations between industries and across national borders. Forward!

This reinforced Anwar’s focus on crafting a robust framework for digital finance. The prime minister also likened the transformative potential of digital finance to artificial intelligence (AI). “However, this innovation is just like AI, which would revamp the financial world. We should not sit idly by and wait and later be forced to do so after others have done it already,” he remarked.

Anwar praised the leadership of the United Arab Emirates (UAE) in the field of digital finance and stressed the importance of adopting similar advancements in Malaysia. “They [UAE leaders] feel that they can forge a close cooperation with Malaysia on this issue. We need to discuss this in detail, leave behind the old business model and give meaning to this digital finance policy,” he noted. Recognizing resistance to change, he said: “We have discussed at length about fintech. But when something new comes about, we get agitated.” He concluded by urging swift action, stating: “I hope we can be more open to this. I am leaning towards not just approving but also expediting this.” A proposal on the policy, requiring input from various agencies, is expected to be presented to the cabinet soon.

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