Mission to rescue stranded strays

 Volunteers travel to isle to save abandoned dogs from hunger and thirst

Some of the stray dogs emerging from their hiding places to eat the food brought by the independent rescuers during their rescue visit to Pulau Gazumbo. — Photos courtesy of IAPWA

 

OVER the loud rumbling of the fishing boat engine, excited barking can be heard from Pulau Gazumbo, a small uninhabited island between Penang island and mainland.

Five beautiful dogs emerge from the shade, running all the way into the water to greet the visitors.

Alone and trapped on the island with no food resources or clean water, the dogs are skinny and completely reliant on the help of local fishermen who stop to drop off food about once in 20 days.

It is believed that in total, there are 13 canines – six matured and seven puppies – but how the dogs ended up on the tiny island remains a mystery.

News of the abandoned dogs reached the ears of independent animal rescuers about two weeks ago who decided that something needed to be done.

 

A litter of puppies captured by the rescuers from the uninhabited isle and being put up for adoption.

Requests to authorities faltered as officially, Pulau Gazumbo (believed to be an island created in the early 1980s during the construction of the first Penang Bridge either by the changing of currents or by excess building materials) is under no one’s jurisdiction.


“We have heard that the dogs have been there for more than six months and the puppies look to be about two months old, ” said animal activist David Yim.


Not wanting to delay help any longer, Yim engaged a fishing boat to bring a group of rescuers to the island last week.


“We were scheduled to go on Friday but unfortunately, the fishing boat broke down on Thursday night.


There are about four to five fishermen who help the dogs when they can.


On Saturday, some of them announced that they were free in the afternoon and went on their own to try and rescue the dogs.


They managed to bring six puppies back to Penang island, ” Yim told The Star.

Without any steady source of food or drinking water, abandoned dogs on Pulau Gazumbo are extremely thin. They are sometimes fed by passing fishermen.


Alerted of their arrival by Yim, Penang Island City Council (MBPP) councillor Connie Tan, who heads the council’s Stray and Abandoned Dog Sub-committee, sent officers to receive the dogs.


“Under a collaboration with the International Aid for the Protection & Welfare of Animals (IAPWA) Penang in 2017, MBPP conducts ‘TNR’, which means ‘Trap-Neuter-Release/Rehome’.


“We first take the dogs to our veterinary unit in Jalan Sungai and after they are checked, IAPWA takes them to be neutered and hopefully, rehomed, ” Tan said.


The six rescued puppies, which IAPWA estimates to be from six to eight weeks old, are currently up for adoption.


Tan said although the area was out of their jurisdiction, the council is aiding the rescue team with cages and tools to help them capture the remaining dogs.

 

 

Two of the rescued puppies now placed in a temporary home at the MBPP’s veterinary unit in Jalan Sungai.


Yim and a small team proceeded to Pulau Gazumbo on Sunday, lugging 40kg of kibble, over 14kg of canned food and 26 litres of drinking water for the trapped animals.


On the desert island, they discovered how hot conditions are despite the splattering of greenery that survives there.


They also learned something else – how fast a scared puppy can run.


“When you look at the island from Penang Bridge, it looks small.


“But when you are running after a puppy under the sun, the area feels very big, ” Yim said, adding that the team failed in their goal of capturing the last puppy.


Undaunted, the team is set to try again today, setting off from Karpal Singh Drive.

A rescuer pouring food on a plastic sheet to feed the dogs on the isle.A rescuer pouring food on a plastic sheet to feed the dogs on the isle.


“We need to go with the fishermen because the dogs are familiar with them.


“So far, we have managed to collect donations for the food that cost about RM1,200 which we estimate to be able to last about a month, if it doesn’t rain, ” Yim said.


He added that all the fishermen journeyed to the island at their own expenses out of their concern for the stray dogs.


“We don’t know how long it will take to capture all the dogs but our first priority is to rescue the last puppy and the mother dog.


“She is the only female dog on the island and it’s important to get her spayed, ” Yim said.


Information on how to sponsor vaccinations and neutering for stray and abandoned dogs can be found on IAPWA Penang’s Facebook page.

Source link

 

Related posts:

 

Stray dog sensation in China!

Stray dog becomes a sensation in China after following ...

Pooch and prejudice: years of the Dog 2018 and Pig 2019

 

No dog until neighbours agree

 

Deadly Rabies in Dogs Alert !

 

 

Basics of palliative care

 

 

What to expect in the Year of the Ox

 

US can't accept painful fact that China is now its equal: Martin Jacques

Chinese diplomats state China's position in the opening remarks of the China-US high-level strategic dialogue in Anchorage, Alaska, on Thursday local time. Photo: cnsphoto

 

We learnt two things from the China-US high-level dialogue held in Alaska last week.

The first was from the session at the beginning when the media were present. This would normally be conducted in a polite and somewhat anodyne fashion dressed up in diplomatic nicety. It could not have been more different. Secretary of State Antony Blinken and National Security Advisor Jake Sullivan commenced the proceedings and made some sharp criticisms of China. In response, Yang Jiechi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the Office of the Central Leading Group for Foreign Affairs, gave a bravura performance. Far from pulling his punches or couching his words in diplomatic language, he let his American counterparts have it with both barrels, challenging not just the US position but its very legitimacy. And all this before the world's media.

Let me quote some of his choice barbs: "When I entered this room, I should have reminded the US side of paying attention to its tone." "The US is not qualified to say it wants to speak to China from a position of strength." "China and the international community…uphold the UN-centered international order…not what is advocated by a small number of countries of the so-called 'rules-based' international order." "On human rights, we do hope the US will do better on human rights. The challenges facing the US in human rights are deep-seated. They did not just emerge over the past four years, such as Black Lives Matter." "On cyber-attacks, let me say that whether it's the ability to launch cyber-attacks or the technologies that could be deployed, the US is the champion." "The US does not represent international opinion and neither does the Western world."

While delivering these shots, Yang spoke with passion but never raised his voice. There were no cheap jibes. He occupied the high ground in the argument and left the Americans bewildered and belittled.

This is not normally the Chinese manner on such occasions. It is a sign that something has changed. There is a new sense of confidence on the part of the Chinese. That they are - or can - win the argument. That they are at least the equals of America. That they speak from a position of strength and America from a position of weakness. That history is on their side. It feels like the diplomatic equivalent of moving from "keeping a low profile" to "striving for achievement," or from being a relative spectator in the global system to becoming a major architect. The Americans have hitherto always thought of themselves as running the show; the shock visible in the body language of Blinken and Sullivan was the realization, conscious or unconscious, that this was no longer the case. The same was apparent in the Western media. The BBC, for example, invariably critical of China, reported it with an unfamiliar neutrality, as if stunned by the role reversal.

The second thing we found out from the dialogue (albeit already evident from the signals emanating from the White House), was that there will be no return to the status quo ante. That Biden is desperately anxious to appear as hostile to China as Trump was before him. The underlying forces at work here are very deep. America is in the process of coming to the painful realization that China is now its equal. But it cannot bring itself to accept or acquiesce in what is already an historical reality. That is why there can be no return to 1972 (Mao-Nixon Accord) or 1979 (US recognition of China). The relationship that prevailed then between China and the US was entirely different: the US was the giant, China a minnow. That was the basis of the US-China relationship for 45 years from 1972 until Trump torpedoed it in 2017, even though, of course, by the end China's rise was already undermining America's assumptions about the relationship. The realization that China was on the verge of overtaking the US economically, that China enjoyed a huge global presence, that it was already in effect its equal, came as an enormous shock to the American psyche and body politic.

Addicted to its hubris, it failed to see the blatantly obvious coming. As there can be no return to the past, the China-US relationship, so crucial to both and to the whole world, will have to be rethought on an entirely new basis, namely one of mutuality and equality. The problem is that the US is very far from thinking like this. How America needs for these times a giant like Henry Kissinger: someone who understands - and admires - China in a very profound way.

For the time being we must think in more mundane ways. Cooperation will be confined to the foothills, it will be a case of issue by issue, a bit here and a bit there, rebuilding contacts and communications between the two countries, ending as best can be done the toxicity and wanton destruction wrought by Donald Trump. Even this will not be easy but it ought, at a pinch, to be possible, with climate change offering the most important challenge and opportunity. For without cooperation between the two countries, climate change will imperil the very future of the planet and humanity.

The author was until recently a Senior Fellow at the Department of Politics and International Studies at Cambridge University. He is a Visiting Professor at the Institute of Modern International Relations at Tsinghua University and a Senior Fellow at the China Institute, Fudan University. Follow him on twitter @martjacques. opinion@globaltimes.com.cn

 

RELATED ARTICLES

 

 

China's 'wolf-warrior diplomacy' in Alaska meeting impresses world; behind it is the West-East battle: observers

 

Time for new clarity and authority to governance in Hong Kong: Martin Jacques

Political reform is part of the solution to Hong Kong's malaise. But socio-economic reform on a scale that ...

We are entering or have already entered the new Cold War: Martin Jacques

 Source link

 
Related posts:

China's tough stance in Alaska turns heads

 

 

 

 

 

 

 

China-US high level strategic dialogue: Chinese diplomats deal vigorous counterblows to condescending US representatives; common ground hard to reach on contrasting logics

 

Why Europe gravitates away from US to Eastern power center: Martin Jacques

 

 

China-Hong Kong union needs sense of inclusion

 

Human right violators: USA,Canada, Autralia, UK, EU - Racism against Asians: Forever foreigner, alien or pendatang

 

 

Why does the West fail to understand China? The West misreads, China is rising, said Cambridge Prof 

 

 

 

http://www.you-books.com/book/M-Jacques/When-China-Rules-the-World

 

 

 

 

 

 

 

America’s 5 Stages of Grief Over China’s Rise; Trump and wife test positive for Covid-19

 

STILL AMRICA FIRST IN TRADE

Human right violators: USA,Canada, Australia, UK, EU - Racism against Asians: Forever foreigner, alien or pendatang

 

People march in downtown Montreal, Canada during a demonstration against anti-Asian racism on March 21, 2021 [Andrej 

Children attend a March 17 vigil at Clemente Park in Lowell, Massachusetts, for the victims of the shooting spree in Atlanta. Erin Clark/The Boston Globe via Getty Images

https://theconversation.com/racism-is-behind-anti-asian-american-violence-even-when-its-not-a-hate-crime-157487 

 

 

STOP THE HATE ... 

 

Why are they choosing to speak up for Asians？





反仇视亚裔浪潮席卷全美 “人权灯塔”为何常年灯下黑？20210330 |《今日关注》

 

 

Children attend a March 17 vigil at Clemente Park in Lowell, Massachusetts, for the victims of the shooting spree in Atlanta. Erin Clark/The Boston Globe via Getty Images

 

MY sister and her husband, both senior citizens, are very cautious about going out.

It’s not just because of Covid-19. It’s because they fear being victims of a hate crime in their country for simply being Chinese. The country? Australia.

Which is ironic because they made the difficult decision to leave Malaysia 30 years ago to give their children a better future in a nation they believed would play fair and recognise talent with no quota system based on race.

But anti-Asian sentiments are making headlines everywhere as the number of attacks on people who look “chinky” rise alarmingly in many Western countries.

A study on police records in 16 of the largest American cities showed hate crimes increased 150% against Asian people in 2020. The latest is the March 16 attack on three Atlanta spas that killed six Asian-American women.

In the UK, hate crimes toward Chinese, East and South-East Asians rose 300% in just the first quarter of 2020. In Vancouver, Canada, the number rose from a mere dozen in 2019 to 142 in 2020, a 717% increase.

And an Australian National University survey of more than 3,000 people found 85% of Asian Australians reported at least one instance of discrimination between January and October last year.

My sister and her husband live in Sydney and being sensible people, they wear their face masks whenever they venture out. That has earned them brushes with white idiots who come up to them and deliberately cough in their faces.

The pandemic, because of its assumed origins in China, has brought out latent, long-simmering resentment, prejudice, even jealousy towards Asians in Western countries.

Asian immigrants, notably the Chinese, because of their capacity for hard work and determination to succeed, created backlashes wherever they landed in droves.

The United States and Australia treated the Chinese badly. Brought in to work on building America’s railroads, they were accused of stealing jobs from the whites. Chinese gold miners in Australia faced the same accusation. Both countries enacted anti-Chinese immigration laws; the US Chinese Exclusion Act of 1882 and the White Australia Policy of 1901 to 1911.

The second half of the 20th century was a better time for Asians in the West with the rise of human and minority rights but racism never completely went away.

Emboldened by former president Donald Trump’s four years of insane leadership, the racists in America wormed their way out of the woodwork to wreak havoc on the country’s race relations, particularly in the treatment of black Americans.

Covid-19 gave them the perfect ammunition to revive old hatred towards Chinese people and fuel resentment against China’s rise as a superpower. Since they can’t tell us apart, all East Asians are attacked.

The hate crimes spurred The Washington Post to look at past episodes of a similar nature. One was the 1900 outbreak of bubonic plague in San Francisco in which the Chinese community was made the scapegoat:

“It is likely that the outbreak began with a ship from Australia, but since the first stateside victim was a Chinese immigrant, the whole community was blamed for it. The episode was a prelude to the racism that has been aimed at Asian Americans during the coronavirus pandemic... Trump frequently called it ‘the China virus, ’ ‘the Wuhan virus, ’ and the ‘Kung Flu’.”

What hit me hard was what theconversation.com had to say:

“Research has found that most Americans assume a person of Asian descent is foreign-born, unless there is some aspect of their appearance that clearly marks them as American – such as being overweight.” (This is hilarious, I must say.)

“Asian Americans of all types experience this perception of being ‘forever foreigners’ in a wide range of ways. Regardless of whether some or all – or none – of these latest assaults on Asian Americans are proved to be hate crimes or not, race plays a historic role.”

“Forever foreigners”. Now doesn’t that make you think of how Malaysian Chinese (and Indians) are forever called pendatang? Indeed, race plays a huge role in our history too, and still does.

It was just last month that HRH Sultan Ibrahim Sultan Iskandar felt the need to say that where Johor is concerned, the Chinese are not pendatang but guests invited in by his forefathers dating back to the 16th century to help develop the state.

“They are the ‘Bangsa Johor’ – just like the Malays, Indians and others, who are all Malaysians, ” he was quoted as saying in the interview with Sunday Star (“’The Chinese are not pendatang’”, Feb 21; online at bit.ly/star_chinese).

That was a nice gesture but as Sabahan anthropologist Dr Vilashini Somiah writes in The Evolution of Pendatang on newnaratif.com, the word meaning immigrant, which was originally neutral and without political insinuations, has evolved since the late 1970s to become derogatory and disparaging.

She says the word has been weaponised and “Today, pendatang is used by Malaysian politicians as an exclusionary tool of identity politics” and as a divisive and exclusionary insult by members of the public.

As an example, Dr Somiah recounts the 2010 incident in which a school head called all non-Muslim students “pendatang” and told them to “balik” (return) to their “country”.

That same taunt to go back to China was thrown at Asians in Western countries since the start of the pandemic. We have had none of that in our part of the world.

I did not fear being spat at or coughed on by fellow non-Chinese Malaysians. For once, in a country that is obsessed with race and where every form requires us to state our ethnicity, that did not seem to matter in the fight against the coronavirus.

Malaysians have been fortunate that no major racial riots have taken place since May 13,1969, but the reality is, our race relations have been fraying for decades.

Time and time again, certain politicians have shamelessly alluded to the possibility of another May 13 whenever they felt the need to warn “immigrant” Malaysians not to be too demanding of their rights.

The anxiety my sister feels now in Australia will surely pass and hopefully they remain safe from harm. But this ugly period will not make them regret their decision to emigrate. After all, their sacrifices paid off as their children are doing very well in Sydney.

The most important thing is racism is no longer institutionalised or legitimised in that country.

Australia has laws that make it a crime to discriminate on the basis of age, disability, race and sex in certain areas of public life, including education and employment.

Even that is not seen to be enough after the spate of pandemic-induced racist attacks and there are calls now to “simplify and strengthen Australia’s racial discrimination and vilification processes... to properly protect victims”.

On the other hand, in Malaysia, where it has long been recognised that racial polarisation has increased while racial and religious tolerance has ebbed, the previous short-lived government did plan to table a Religious and Racial Hatred Act to curb the growing number of such cases, particularly on social media.

Back in 2018, the then Minister in the Prime Minister’s Department (Religion) Mujahid Yusof Rawa said the law was to “ensure that our multi-religious and multiracial society is protected from being insulted and belittled”.

But in August 2020, Perikatan Nasional’s National Unity Minister Datuk Halimah Mohamed Sadique told the Dewan Rakyat that there would be no new law as existing ones are able to look after interracial and religious harmony in the country.

I wish I could believe she’s right but as a born and bred Malaysian of Chinese descent who has no desire to call anywhere else home, I think more can be done.

For one, I would like to see calling someone like me a pendatang forever banished.

The views expressed here are entirely the writer’s own.

Source link

 

Related:

 

Asian hate on the rise

 

Understanding anti-Asian hate: You eat dogs, don't you?

 

Racism is behind anti-Asian American violence, even when ...

 

Anti-Asian Attacks and Hate Crimes on the Rise Worldwide ...

 

Hate crimes against Asian Americans surge in US - Nikkei Asia

 

Anti-Asian racism reaches 'crisis point' in Canada, advocates ...

Xinjiang regional govt condemns, refutes lie-based EU sanctions

The Xinjiang regional government on Tuesday condemned the EU sanctions, calling the lie-based sanctions using the excuse of "human rights" pure interference in China's internal affairs.

   

 

Chinese and foreign nationals, fed up with West's slanders, take to the internet to set things straight

A growing number of Chinese individuals, angry with some Western media outlets' frequent attacks on China, are standing up to fight against the Western media's propaganda war that targets China, and especially their baseless smear campaign on China's COVID-19 response ...

 

EU has no right to blackmail China: Global Times editorial

The CAI between China and the EU is mutually beneficial, rather than a gift from the EU to China. 

US a back-seat driver on human rights

The US itself has failed in human rights issues, but it is fond of lecturing others. 

 

 The Report on Human Rights Violations in the US in 2020

 

China has three 'weapons' to deal with US provocation: Global Times editorial

It is not the right time to reason with Washington. China has three “weapons” to counterattack US offensives.

Related posts

 

When racism is not simply black and white

 

 

US can't accept painful fact that China is now its equal: Martin Jacques

 

 

China-US high level strategic dialogue: Chinese diplomats deal vigorous counterblows to condescending US representatives; common ground hard to reach on contrasting logics

中美高层战略对话在即 美不行待客之道 中方严正回应！ 20210319 |《今日关注》CCTV中文国际 中国核心利益没有退让余地 中美需避免零和博弈管控分歧 20210320 |《今日关注》CCTV中文国际  .

 

WHO-China joint report on virus origins:Wuhan Lab-leak is "extremely unlikely", ‘more states should be probed’...

 

 

Searching for Covid-19’s origin

China aid offers Covid-19 vaccine assistance to 80 countries

The first batch of Chinese-donated COVID-19 vaccine doses is unloaded from a plane at Robert Mugabe International Airport in Harare, Zimbabwe on Feb 15, 2021. Photo/Xinhua] 

 

 

Vaccine assistance is first large-scale effort of its kind

China is providing and will offer vaccine assistance to 80 countries and three international organizations, the first large-scale assistance of its kind, the country's International Development Cooperation Agency said on Friday.

The vaccines are being donated to a wide range of countries from five continents in a timely and orderly manner, including 26 in Asia and 34 in Africa, the agency's spokesperson Tian Lin said in an interview.

The country also offered vaccine doses to the African Union, the Arab League and the United Nations Peacekeepers, Tian said.

China has acted swiftly to donate the vaccine doses, he said, adding that the nation is also providing injection devices to countries facing difficulties.

So far, over 60 countries have authorized the registration or emergency use of Chinese vaccines, and many foreign politicians have been inoculated with Chinese vaccines, including the president and prime minister of Hungary, the Pakistani president and Chile's president, which Tian said is a vote of confidence in the security and effectiveness of Chinese vaccines.

China applies the strictest quality control measures with regard to its vaccines and ensures the timely delivery of high-quality vaccines, he said.

The moves aim to implement the promise made by President Xi Jinping at the opening of the 73rd session of the World Health Assembly via video link last year that COVID-19 vaccine development and deployment in China, when available, will be made a global public good.

The ongoing assistance is provided to ensure developing countries have fair and timely access to vaccines, and is based on the pandemic situation and the specific needs of related countries, he said.

China provides the assistance to help developing countries save lives, to which it attaches no political strings and has nothing to do with geopolitics, he said.

China is not a savior, but tries to be a friend in need, a sincere partner to be counted on in times of difficulty, he added.

Tian called for efforts to promote the fair distribution of vaccines around the globe. He noted that while high-income countries have quickly acquired a large number of vaccine doses, there are fewer opportunities for poor nations to obtain vaccines.

He said that China firmly opposes selfish behavior such as hoarding, monopolies and "vaccine nationalism", and hopes the international community will do more that is conducive to global cooperation in combating the pandemic.

Vaccine assistance will not affect domestic inoculation, he said, adding that China always offers foreign aid according to the principle of doing the utmost within its capabilities.

- China Daily/ANN/The Star 

Source link

 

 Related:

 

 

 China's rate of vaccination

80.46 million people had received #COVID19 vaccination as of Mar 22. After the first vaccine was approved for emergency use in July 2020, China's vaccination rate has accelerated. Check this graphic for more details:

 

China promotes world's largest vaccination drive, to surpass US in number of doses in April

China's mass vaccination campaign has entered the fast track with its daily inoculations leaping from 1 million to nearly 3 million within a week. Experts expected China's overall inoculation rate to surpass 10 million per day, putting it on target ...

 

Bitcoins, Cryptocurrencies under fire

 

Bitcoins

 India and China come down hard due to concerns of financial market stability, illegal fundraising

N THE latest twist involving the world of cryptocurrencies, India’s government plans to impose a massive ban on the asset class.

Reports have indicated that the Indian government plans to pass a bill that would ban just about every activity involving cryptocurrencies, including the possession, issuance, mining, trading and the transferring of crypto-assets.

Once passed, this would make it one of the world’s strictest policies on cryptocurrencies. Government officials have said that the move is because they believe cryptocurrencies threaten the stability of financial markets, tend to fund unlawful activities and even resemble ponzi schemes.

The move by the Indian government falls in line with the school of thought that cryptocurrencies could increasingly suffer bans by governments around the world.

In India’s case, the move comes after an earlier ban two years ago. But last year, the courts in India overturned the decision, citing the ban as “disproportionate” after cryptocurrency exchanges filed a lawsuit against the central bank’s ban.

The strong stance against cryptocurrencies has also been shown by China’s government. More than three years ago, China was the first country to ban initial coin offerings (ICOs), calling it “illegal fundraising”.

Since then, the Chinese government has accelerated efforts to clamp down all businesses involved in cryptocurrency operations, including bitcoin miners.

China’s government says its stance is based on investor protection, money laundering concerns and the unnecessary consumption of energy due to crypto mining activities.

Last month alone, there were plans to ban new cryptocurrency mining projects and shut down existing ones in China’s Inner Mongolia region.

As one financial analyst puts it, “the problem with cryptocurrencies is that while it thrives to work in an unregulated world, it is bound to come under the scrutiny and regulation of governments, which are mostly afraid of its misuse and potential negative impact to financial markets. Perhaps somewhere in the future, a balance will be struck but that is anyone’s guess”.

While governments have a tendency to ban cryptocurrencies, many are embracing blockchain technology with the intention of issuing state-backed digital currencies.

This is essentially an electronic version of notes or coins which would replace physical cash entirely and dubbed central bank digital currencies or CBDC.

China is one of the leading countries for this and has already passed a law to legalise its own official digital currency. Similarly, India is an example of another country that is considering having its own digital currency. Interestingly, India’s move to pass the bill to ban cryptocurrencies comes soon after the mother of all cryptos, namely, bitcoin has hit its all-time high past US$60,000 (RM246,449) for the first time earlier this week.

The world’s biggest currency rally was driven by speculative demand, increased adoption by firms and institutional investors that see bitcoin as a store of value. Last month, Tesla bought over a billion dollars worth of bitcoins.

The electric car maker said it plans to accept the digital coin as payment for its products. Mastercard has also said it would also soon accept bitcoin as a form of payment.

Asset manager BlackRock and payment companies Paypal and Square have also recently backed cryptocurrencies.

Back home, the question remains whether the government, central bank or the Securities Commission (SC) would take a stronger stance against cryptocurrencies.

Malaysia’s regulators have held the view that digital assets are not legal tender and have warned investors to be cautious when dealing with cryptocurrencies.

SC chairman Datuk Syed Zaid Albar tells StarBizWeek that “investors must understand that unregulated, offshore investments are not protected under Malaysian securities law”.

“The SC has put in place a regulatory framework for such new emerging investment channels to provide certainty to issuers and investors who are keen to explore these new instruments.

“For example, our regulatory framework has tried to address issues such as putting investors’ money in trust accounts, accurate disclosures, cooling-off periods and conflict of interest situations are also regulated, ” Syed Zaid explains.

The country’s central bank, Bank Negara, also echoes a similar view, explaining that digital assets lack the characteristics of money and suffer from several limitations such as price volatility and risks of cyber threats.

“Digital asset activities are also subject to anti-money laundering and counter-terrorism financing regulations administered by the respective authorities, ” the central bank reported in its annual report in 2019.

Malaysia is also one of the countries studying the feasibility of issuing its own digital currency. “The bank is no exception, and we continue to engage closely in discussions surrounding CBDC with other central banks, ” it said.

More collaborations among central banks around the world are taking place to study the impact of a digital currency for financial stability and the monetary policy of a country.

Why does Bitcoin use 10 times more electricity than google...

Google’s entire operation consumed 12.2 TWh in 2019 and all the datacentres in the world, excluding those that mine Bitcoin, jointly consume around 200 TWh annually. — Reuters

Thailand's central bank plans stablescoins regulations this year

India to propose cryptocurrency ban, penalising miners...

 Source link

 

Related posts:

 

Blockchain: Internet of Value/ Currency of Trust; Private cryptocurrency a misallocation among blockchain technology, say research & economist

 

China gets into blockchain race with US

 

China's new digital currency

 

 On Mcoin, Bitcoin and points of investment 

 

 Bitcoin: Utter pipedream

 

Blockchain Festival & Conference Week, Kuala Lumpur 26~27 Sept 2018

 

SC to regulate digital assets

 

Bitcoin, digital currencies rally, caution prevails; virtual currency in property 

 

Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble

 

What is Blockchain Technology, its uses and applications?

 

JPMorgan CEO warns he will fire any employee trading Bitcoin for being “stupid.”

 

 Environmental impact of cryptocurrency

 

Bitcoin falls after exchange is hacked, US$72 mil stolen from Bitfinex exchange in HK