Bitcoin Thrives in Malaysia

Increasing financial corruption and a weakening currency pushes people to try alternative financial systems like Bitcoin. No wonder that Bitcoin is thriving in Malaysia.1MDB – Malaysia’s Brush with High Level Corruption1Malaysia Development Bhd, or 1MDB as it is popularly known, is a state investment vehicle set up in 2009 to turn Kuala Lampur into a global financial hub. It started to run into problems in 2015 and has missed repayments on its debt obligations this year.More than 10 countries across the world (including US, Switzerland and Singapore) have opened investigations into its affairs.After a furore over corruption allegations, the advisory board of 1MDB headed by Malaysian PM Najib Razak was dissolved in May 2016 and a fresh board appointed.