Malaysia is exploring policies to regulate cryptocurrencies and blockchain technology, following discussions with UAE officials and Binance representatives. The goal is to create a supportive policy framework that protects investor interest and promotes digital finance growth. Malaysia aims to become a key player in the evolving digital finance ecosystem. The country’s Securities Commission has been working on shaping its Web3 sector since 2019.
A significant portion of Malaysia’s population is already invested in digital assets, with 30% of respondents holding cryptocurrencies in 2023. The country has seen a growing need for regulation, with authorities cracking down on illegal crypto mining hubs and unregistered crypto exchanges. Crypto exchanges operating in Malaysia require official approval from the Securities Commission.
