KUALA LUMPUR (BLOOMBERG) - Malaysia's Communication Ministry has proposed to the government that cryptocurrency such as bitcoin be adopted as legal transfer, its deputy minister Zahidi Zainul Abidin told Parliament on Monday (March 21).

"We hope the government can allow this," Mr Zahidi said.

"We are trying to see how we can legalise this so that we can develop youth participation in crypto and assist them."

Crypto currency falls under the purview of the country's central bank and Securities Commission, he added.