Does Malaysia allow Cryptocurrency? Cryptocurrencies will not become legal tender in Malaysia, the country’s deputy finance minister said Thursday (March 24). As Bloomberg reported, Minister I Mohd Shahar Abdullah told Malaysia’s parliament that there were too many limitations on digital currencies such as bitcoin to use them as a payment instrument.
Is it legal to mine ethereum in Malaysia? It is perfectly legal in Malaysia to mine, buy and sell cryptocurrency.
Is mining Cryptocurrency legal? You may want to look into local regulations where you live, but for now, bitcoin mining is legal in the U.S. and most other countries, but not all U.S. states allow it.
Is mining in Malaysia profitable? If you calculate the ROI of mining Bitcoin in Malaysia, chances are it will not be very profitable. This is because of 2 major reasons: You will lose out to the larger communities like China. The equipment needed for mining is very expensive, often going into thousands of ringgit.