Khairy Jamaluddin has questioned whether or not Harapan Coin is a legitimate tender since the cryptocurrency has not received any approval from Bank Negara Malaysia. — Picture by Yusof Mat Isa

KUALA LUMPUR, Nov 26 — Rembau MP Khairy Jamaluddin has questioned whether or not Harapan Coin is a legitimate tender since the cryptocurrency has not received any approval from Bank Negara Malaysia (BNM).

Speaking in the Dewan Rakyat today, Khairy had pointed out that there were reports that Harapan Coin was already being traded on its website harapancoin.com.

“According to the site, the coin is traded at a rate of US$45 (RM188) per 100 units. As much as US$772 has been successfully collected. Is this (project) being operated illegally as Bank Negara Malaysia has not approved (of the cryptocurrency)?

“And what actions will be taken seeing that this currency is being sold in the name of a (political) party?” asked Khairy.

Harapan Coin first came about before the 14th General Elections. Federal Territories Minister Khalid Samad has also been involved with the cryptocurrency since its inception.

Earlier during question time, Finance Minister Lim Guan Eng has said that Malaysia’s central bank is still conducting an in-depth study on cryptocurrency technology.

“Bank Negara Malaysia has not made a final decision on this new financial mechanism. Please don’t do anything that will cause you trouble. Whatever it is, please refer to BNM and don’t do anything without BNM’s guidelines and instructions,” Lim advised.