Fahmi urges caution on Harapan Coin, says he should wait for the cryptocurrency guidelines, political funding – Nation


KUALA LUMPUR: The government has been pushed to wait for the introduction of the cryptocurrency guidelines and political funding regulations before introducing the Harapan currency.

The communications director PKR Fahmi Fadzil, who is the deputy of Lembah Pantai, said that it is necessary to have adequate regulation on the political funding established due to the nature of the cryptocurrency.

"The anonymous nature of cryptocurrency could open us to a number of problems and we have to wait for guidelines from Bank Negara Malaysia (BNM) on the cryptocurrency," he told reporters in the Parliament hall on Wednesday (November 14).

Former Prime Minister Datuk Seri Najib Razak had previously questioned the purpose of the Harapan currency launched by its founding minister of the Federal Territory Khalid Abdul Samad.

Fahmi said it was difficult for him to agree with the project until these problems were properly addressed.

The Harapan currency should be the first political fund-raising platform in the world that uses cryptocurrency and blockchain technologies.

The paperwork and presentation of the project should soon be given to the BNM and to the Prime Minister Tun Dr Mahathir Mohamad.

Khalid had said that although the decision and the approval by the BNM and the Pakatan Harapan (PH) presidential council may take some time, it is nevertheless determined to continue to propose the project.

On a separate issue, Fahmi said that the government should not rush to ratify the treaties relating to the International Convention on the Elimination of All Forms of Racial Discrimination (ICERD).

He said that PKR still has to decide if it was a good move to ratify the convention because it was still under discussion.

"I do not think we need to ratify the convention quickly before parliamentarians have been given the opportunity to discuss and declare their position and that of their parties".

"This should be done even after the legislators have discussed the issue with people, because we do not want this to be a divisive polemic, especially when the information obtained is not true or incomplete.

"We need to see the opinions of both sides before we can move forward on this," Fahmi said.

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