KUALA LUMPUR, Nov 19 ― Federal Territories Minister Khalid Samad said a Bank Negara Malaysia taskforce was studying the proposal of the Harapan Coin cryptocurrency.

He was speaking to reporters after officiating a seminar on the coordination and implementation of biodegradable products at the City Hall Training Centre here today.

"The issue of the Harapan Coin was being studied by a BNM taskforce,” said Khalid.

When asked whether he will drop the idea since Prime Minister Tun Dr Mahathir Mohamad said he was lukewarm to the concept, Khalid said he would leave it to authorities to decide on the matter.

Khalid added that the Federal Territories Mufti Datuk Seri Zulkifli Mohamad Al- Bakri said that the usage of the Coin would be ‘haram’ as there was no governing body overseeing the Coins.

"We need to set up a governing body to oversee the Harapan Coin,” said Khalid.

The  Harapan Coin claims to be the world’s first political fundraising platform utilising cryptocurrency and blockchain technology,

The prime minister recently said that the government has not considered the use of cryptocurrency Harapan Coin for official transactions as mooted by Khalid Samad, saying the Cabinet has yet to discuss the issue.

Dr Mahathir said Putrajaya is reviewing the pros and cons of cryptocurrencies, but has made no decision, even on Harapan Coin.