Binance still banned in Malaysia, says govt
Malaysian Prime Minister Anwar Ibrahim has clarified that Binance remains unlicensed and banned from operating in the country. While the Securities Commission removed the exchange from its alert list, the platform's website and app remain blocked for local users.
Why it matters
This highlights the ongoing regulatory friction between global cryptocurrency exchanges and national financial authorities seeking to enforce local licensing laws.
Binance is the world’s largest cryptocurrency exchange. (Unsplash pic)
PETALING JAYA: Cryptocurrency and blockchain giant Binance is still not permitted to conduct capital market activities in Malaysia, says Prime Minister Anwar Ibrahim.
Anwar, who is also finance minister, said the Securities Commission of Malaysia (SC) had removed Binance from its Investor Alert List in 2024 as the company no longer conducted regulated activities in Malaysia.
However, Binance's website and application remain banned from being accessed by users in Malaysia, he said.
"The SC will continue monitoring developments and will take appropriate action if there are breaches of the law or new risks (posed by Binance) to local investors.
"Nonetheless, at this time, Binance is not licensed or registered with the SC to conduct capital market activities in Malaysia," he said in a written parliamentary reply.
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