The federal government is examining whether Bitcoin mining should be banned after years of large-scale electricity theft linked to the activity. Deputy Minister Akmal Nasrullah told Parliament that a new multi-agency committee will assess long-term measures as illegal mining has caused severe grid losses. More than 13,800 premises were found stealing electricity for cryptocurrency operations since 2020, resulting in RM4.57 billion in losses to Tenaga Nasional.
Bitcoin ban
Authorities said Bitcoin mining is unregulated and often relies on bypassed meters to avoid high energy costs. The committee will study policy options, including prohibition, and present its recommendations to the Cabinet. Bank Negara does not recognise Bitcoin as legal tender and does not regulate related operations.
Table of Contents
Read More News on Latest Malaysia
Follow us on:
Read More News on Business News Malaysia
Read More News on SG Business News
Read More News on World Future TV
