Malaysia Mulls Over Cryptocurrency As Legal Tender; NFTs To Be A Large Part Of Collectibles Market Growth; Bitcoin Falls
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- 07 Sep 2022
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Discussions are on in Malaysia about making cryptocurrencies legal tender in the South-east Asian country. Malaysia’s Deputy Communication Minister, Zahidi Zainul Abidin, said on Monday in the country’s parliament that the ministry has made a proposal to the government regarding the adoption of cryptocurrency such as Bitcoin as a legal transfer, according to various media reports. "We hope the government will allow this." We are trying to see how we can legalise this so that we can develop youth participation in crypto and assist them, "Abidin said.
Within 20 months of operating in India, CoinSwitch, a crypto unicorn, has completed its first-ever employee stock option plan (Esop) buyback worth $2.5 million (approximately Rs 19 crore) within 20 months of operating. "The equity buyback programme is a small effort to acknowledge our employees’ contributions to the phenomenal growth of CoinSwitch," says Ashish Singhal, co-founder and CEO of CoinSwitch.
The global collectibles market, which was worth $412 billion in 2021 (actual value), will reach $692.4 billion by 2032 and non-fungible tokens (NFTs) will be a large part of the growth, shows Market Decipher’s latest report, "Collectibles Market and NFT Market Size, Statistics, Growth Trend Analysis, and Forecast Report, 2022–2032." The fastest growing sectors include sports memorabilia, NFT, and toy collectibles. Read More...
