Binance said it has spent the past 10 months discussing a licensed Malaysian business with the Securities Commission Malaysia and Bank Negara Malaysia, the country’s central bank.

Its website and apps remain blocked, and it has not disclosed which license it is seeking.

Digital asset exchanges in Malaysia must register with the Securities Commission as recognized market operators.

The regulator ordered Binance to stop operating in July 2021. It removed the exchange from its investor alert list in 2024, then added it back in October 2026.

Binance previously took a stake in MX Global, which was described at the time as one of Malaysia’s four regulated crypto exchanges.

Lawmaker Lim Guan Eng requested an investigation in September into alleged ringgit trades on Binance’s peer-to-peer platform that were listed under other currencies.

Binance said it disabled a Papua New Guinea kina marketplace and described the complaint as an isolated advertisement.

Binance also suffered a breach involving up to US$6.3 billion, suspended withdrawals, and pledged to cover losses.

🔗 Source: Bloomberg

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