Malaysia’s securities commission, Suruhanjaya Sekuriti Malaysia, started regulating the country’s cryptocurrency industry on Jan. 15, 2019, when “the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019” went into effect. So far, three cryptocurrency exchanges have been approved to operate in the country: Luno Malaysia, Sinegy Technologies, and Tokenize Technology.

• Luno – most popular digital asset exchange in Malaysia which has served over 3 million users
• Sinegy – local team and have obtained full approval from the Securities Commission
• Tokenize Exchange – Singapore-based and have full approval from the Securities Commission

Malaysia began regulating cryptocurrency exchanges in 2019. By June 2019, Securities Commission (SC) has granted approval to three crypto exchanges to function in Malaysia, specifically Luno, Sinegy and Tokenize. Before the licenses had been issued through SC, there had been fifty six cryptocurrency exchanges registered as reporting organisations with Bank Negara Malaysia. SC as the regulatory body in Malaysia has since shortlisted the listing to these three reputable exchanges. These exchanges have passed through a tough screening process and are subjected to a number of regulations and regulations.

Cryptocurrency exchanges, also recognized as Digital Asset Exchanges (DAX) are platforms where you can trade your Malaysian Ringgit (RM) into cryptocurrencies. Cryptocurrency exchanges in Malaysia are licensed and regulated by the Securities Commission of Malaysia.

Cryptocurrency exchanges in Malaysia are allowed by SC to trade solely Bitcoin, Ethereum, and XRP for now. As of April 2020, solely Luno, Sinery, and Tokenize has totally complied with SC’s requirements and has obtained SC’s full approval to commence operations.