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KUALA LUMPUR (November 14th): There should be adequate regulation on political funding and the official guidelines of Bank Negara Malaysia on cryptocurrencies before Harapan Coin can be distributed, said Fahmi Fadzil, member of the parliament of Lembah Pantai.
"I think we need to make sure we have adequate regulation on the political funding in place because the anonymous nature of cryptocurrency could open us to a series of problems," he told reporters today at the lobby of parliament.
"At the same time, I think we have to wait for guidelines from Bank Negara regarding cryptocurrency," he added.
Without the two key sets of regulations, Fahmi said it would be difficult for him to personally accept the proposal.
"I think it's my default position [for now], "He said.
The Harapan currency, co-founded by Deputy Shah Alam Khalid Abdul Samad, would be the first political fund-raising platform in the world that used cryptocurrency and blockchain technology.
Yesterday it was reported that Khalid said that a document and a presentation on the Harapan currency have been prepared and will soon be presented to Bank Negara and Prime Minister Tun Dr Mahathir Mohamad.
Khalid said that the cryptocurrency technology can also be used as payment for government agencies for licenses, calls, among others.
