Asian Tech Press (Mar. 24) -- Malaysia has no intention of adopting cryptocurrencies as legal tender, a finance official said Thursday.

Mohd Shahar bin Abdullah, Deputy Minister of Finance I in the Cabinet of Malaysia, said in parliament Thursday, "Cryptocurrencies like Bitcoin are not suitable for use as a payment instrument due to various limitations."

His comments come three days after a minister in the Southeast Asian country has proposed legalizing cryptocurrencies.

Zahidi Zainul Abidin, Deputy Minister of Communications and Multimedia, previously urged the government to make cryptocurrencies such as Bitcoin the official method of payment within the country.