Illegal Mining and Policy gaps stall Malaysia’s Crypto growth
Rampant electricity theft by illegal miners, inconsistent policies, and a lack of legal clarity deter Malaysia from tapping the underlying economic potential of cryptocurrency mining, according to an industry report released by the Access Blockchain Association of Malaysia.
The report predicts that Malaysia’s crypto mining market will grow 110.2% in 2025 — from $2.44 billion to $5.13 billion — catalyzed by its strategic location, growing tech ecosystem and expertise in Shariah-compliant finance. However, the report suggests the country must iron out several internal factors to maintain sustained growth.
A parallel economy of illegal miners
Malaysian multinational electricity company, Tenaga Nasional Berhad (TNB), lost 441.6 million…
