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Bitcoin Usage May Spike Following Cash Restrictions in Malaysia

Cash Restrictions May Boost Bitcoin AdoptionThe Malaysian government plans to impose restrictions on cash transactions reports local media platform The Star. According to the publication, the move is part of efforts to combat money laundering in the country.Commenting on the plan, Datuk Abdul Rasheed Ghaffour, the deputy governor of Malaysia’s central — Bank Negara (BNM), remarked:This is to address the abuse of physical cash used for illicit activities.Malaysian economist, Barjoyai Bardai believes the proposed cash transaction limit in the country could boost digital currency adoption.For Bardai, having such restrictions may be the catalyst that pushes more people to adopt digital payment systems. According to Bardai:When consumers get used to using digital currency, they will be more...