Prime Minister Anwar Ibrahim of Malaysia announced plans to advance national policies on cryptocurrency and blockchain technology following productive discussions with Binance co-founder CZ and leaders from Abu Dhabi. The New Straits Times reports that upon returning from a three-day trip to Abu Dhabi, Ibrahim is keen on developing these technologies to ensure Malaysia remains competitive on the global stage.

The prime minister expressed his intent to introduce a policy proposal to the cabinet urgently, emphasizing the need for regulation to protect the public and prevent financial leakages. He highlighted that embracing these innovations, similar to artificial intelligence, could revolutionize the financial sector and that Malaysia must not lag behind international trends.

Ibrahim also noted that collaborations with the United Arab Emirates could enhance Malaysia’s approach to digital asset regulations. He stressed the importance of updating traditional business models and embracing digital finance to maintain pace with other Southeast Asian nations and the proactive stance of the upcoming U.S. administration under President-elect Trump.

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