Proton Suspends one of its Malaysian Dealerships for Accepting Bitcoin
Popular auto company Proton has announced its decision to suspend one of its dealerships in Seri Kembangan, Malaysia. Apparently, the reason behind this decision is the fact that the local dealership has decided by itself to start accepting bitcoin payments.
Proton does not recognize cryptocurrency payments
The issue for the local dealership is the fact that Proton does not recognize cryptocurrency payments. This means that the company refuses to allow bitcoin or ethereum as payment methods. Proton stated that it decided to temporarily suspend the operations of the local dealership and it will conduct an investigation into the matter.
The company said that it never gave approval to the dealership to start accepting such payments, and that the dealership made the decision to accept bitcoin individually. Proton said in an official statement:
“While we encourage innovative ways to increase sales, promotional activities must adhere to its guidelines and be endorsed by the major shareholder of the car manufacturer. In order for us to pick up our sales numbers, we shall be taking further steps for more attractive consumer campaigns, and improvement of product and service quality.”
However, media reported that Proton could actually benefit from the introduction of cryptocurrency related payments. The famous company has suffered a major sales fall and its competitors seem to be getting more ground. One of its competitors actually recently started accepting bitcoin payments. Bitcoin payments could potentially bring more clients to companies.
Still, maybe Proton's decision is also linked to the current climate in Malaysia related to cryptocurrencies. The country does not recognize digital currencies as legal forms of payment. However, it is important to mention that Malaysia has not announced plans to ban cryptocurrencies, either. The country's central bank has asked cryptocurrency exchanges to report on their activities.
