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KUALA LUMPUR: Finance Minister Lim Guan Eng said there would be no other statements on the cryptocurrency Harapan Coin which was heavily promoted by the Minister of the Federal Territories , Khalid Samad.
"I contacted the minister who announced these announcements and he agreed to no longer make statements on this," he said at a press conference today.
He also urged those wishing to issue cryptocurrency to wait for the regulatory framework of the Securities Commission Malaysia.
He added that it would be premature to put cryptocurrencies on the market without the framework in place.
"If there are any suggestions, please refer to the Securities Commission and Bank Negara Malaysia (BNM)," he said, adding that his ministry would be coordinating with these two groups.
Khalid had previously stated that he had participated in the Harapan Coin project even before the 9 May poll. The project has since been scrutinized by politicians on both sides of the demarcation line.
Without giving specific names, Mr. Lim stated that the Minister in question did not realize that his remarks would be reported so widely.
"He agreed that in the future, all this should be channeled through the Securities Commission, the BNM and the Ministry of Finance.
"I always say that in any business, we must have the 5Cs. We must encourage certainty, clarity, coherence and continuity; only then can you have credibility, especially when we talk about financial instruments. "
Executive Chairman of the Securities Commission, Syed Zaid Albar, said the first draft guidelines for the peer-to-peer FundMyHome system had been completed.
He added that the commission would now engage in discussions with industry stakeholders and relevant stakeholders.
"We want to know everyone's point of view. We will go forward from there, "he said, adding that they hoped to adopt the regulation by the first quarter of 2019.
He added that the commission wanted to ensure that investors, in this case homebuyers, are protected.
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