Malaysia Aims for 30% Digital Economy by 2030 with Digital Asset Push
Malaysia is driving its digital economy growth, targeting a 30% GDP share by 2030. A core strategy involves digital asset commercialization, needing robust regulation and industry collaboration. The Securities Commission Malaysia (SC), Ministry of Digital Technology, Bank Negara Malaysia, and Malaysia Digital Economy Corporation (MDEC) are collaborating to achieve this.
Digital Minister Gobind Singh Deo emphasizes the importance of expanding Malaysia's digital asset ecosystem. The SC and Bank Negara Malaysia have established regulatory frameworks for digital assets, with the Digital Ministry coordinating policies. Enhancing infrastructure is crucial for digital transformation and fostering confidence in digital assets like stablecoins and blockchain applications.
Effective governance structures rely on constructive engagement between industry players and regulators. Collaboration is vital to instill confidence in digital assets and contribute to Malaysia's economic growth.
Malaysia's digital asset commercialization seeks to boost the country's economic output. Regulatory bodies and industry players must work together to foster growth, strengthen infrastructure, and build confidence in digital assets. This collaboration is essential for Malaysia to meet its digital economy targets.
