Binance confirms licence talks with Malaysian regulators, five years after ban

1 November 2026 · News · Tech & digital

Binance said on 31 October that it has been in talks with the Securities Commission and Bank Negara Malaysia for about 10 months about a licensed business in Malaysia, where its website and apps remain blocked. Nothing has been approved, so companies building digital-asset products should keep working only with exchanges registered by the SC.

What was reported

Bloomberg reported on 31 October 2026, and The Edge followed, that global crypto exchange Binance is in discussions with Malaysian regulators about operating a licensed business in the country. Binance said it has engaged the Securities Commission Malaysia (SC) and Bank Negara Malaysia for about 10 months.

The company did not say which licence it is seeking. It described the talks as covering the "viability and structure of licensed business model", and said it is committed to serving Malaysians in a compliant way.

The background

In July 2021 the SC ordered Binance to stop operating in Malaysia after finding it had run a digital asset exchange without registration. The orders also required it to stop media and marketing activity aimed at Malaysians. The SC removed Binance from its Investor Alert List in 2024, but added it back earlier in October 2026 without giving a reason.

Binance told The Edge it had voluntarily shut a peer-to-peer marketplace for the Papua New Guinea kina that was being informally linked to the ringgit, and that a separate complaint involved a single advert by a non-Malaysian user. It said it did not believe the case reflected a sustained effort to get around Malaysian law.

No licence has been granted, and the reports gave no timeline for a decision.

What it means for businesses

For now, nothing has changed. Only digital asset exchanges registered with the SC as recognised market operators may serve Malaysian investors, and the SC's Investor Alert List remains the first place to check any platform.

Companies working with blockchain developers on tokenisation, payments or Web3 products should ask early which licensed exchanges or custodians the project will connect to, and build the SC and BNM requirements into the scope. Our blockchain and Web3 category page lists the questions to ask before you commission a build.

Related rankings and guides

Sources

Editorial summary written by Best Malaysia Services. Not legal, tax or financial advice; check the original sources.

📬 Get the weekly briefing

New rankings, buyer guides and the week's services-industry news for Malaysian businesses. Free, once a week.