Malaysia News

Malaysia’s largest electricity utility says it lost over $755 million due to illicit Bitcoin mining activities starting from 2018, significantly impacting the country’s energy sector. Tenaga Nasional Berhad (TNB), the largest electricity utility company in Malaysia, lost RM3.4 billion (over…

The Inland Revenue Board (IRB) of Malaysia has initiated a special operation named "Ops Token" to tackle crypto tax evasion and enhance overall tax administration in the country.

A Malaysian man, aged 42, has become the latest victim of a cryptocurrency scam, losing nearly RM1 million (approximately $212,000) of his savings. According to Johor Baru South Police assistant commissioner Raub Selama, the victim, who has not been named,…

The Malaysian Securities Exchange (SC) has hammered down crypto exchange Huobi for allegedly failing to register correctly. Huobi has been urged to cease operations in the region entirely. Having put the Huobi crypto exchange on its “Investor Alert List” since…

Zetrix, has signed a partnership with state-owned tech enterprise MIMOS Technology Solutions to develop and manage Malaysian Blockchain Infrastructure (MBI).

The Securities Commission of Malaysia has placed cryptocurrency exchange Huobi Global on its investor alert list for running a digital asset exchange (DAX) in the nation without official registration from local regulators. SC Malaysia Add Huobi to Investor Alert List…

Binance, the world’s largest cryptocurrency exchange by market capitalization, revealed that it would work with local exchanges in Malaysia to accelerate adoption in the country. Crypto Regulation Necessary for the Industry According to New Straits Times, Binance CEO Changpeng “CZ”…

Malaysia has finally responded to the question of making cryptocurrencies legal tender. The Malaysian Deputy Finance Minister said today in parliament that the country has no intention of recognizing cryptocurrencies as a legal tender.

Malaysia’s Communications and Multimedia Ministry has urged the government to legalize non-fungible tokens (NFTs) and adopt bitcoin (BTC) and other cryptocurrencies as legal tender, to make life easier for the country’s youths, according to reports on March 21, 2022. Malaysia’s…

The Malaysian central bank is the latest to assess the potential benefits of a central bank digital currency (CBDC), Bloomberg reports, January 17, 2022. Malaysian Central Bank Exploring the Need for CBDC In a recent development, Bank Negara Malaysia, the…

The first bitcoin fund in the Southeast Asian region, the BCMG Genesis Bitcoin Fund, otherwise known as BGBF-1, recently launched to cater to accredited institutional investors.  Bitcoin Fund for Asian Institutional Investors According to a press release on Monday (Mar.…

The Malaysian financial watchdog has revised its IEO and DAC guidelines. Securities Commission Tweaks Crypto Guidelines In an attempt to create a more conducive yet safe regulatory environment for digital assets in the country, the Malaysian financial watchdog – The…

The Malaysian bond market is one of the most developed and dynamic according to CBonds. The exponential growth of corporate bonds means the country’s bond market is one of the largest in the region.  Given its significance, Project Harbour is…

Malaysia is mulling using blockchain technology to foster increased transparency and traceability to increase trust in its local palm oil supply chain infrastructure. This, according to a report by FoodNavigator-Asia, May 4, 2020. Blockchain for Palm Oil Major palm oil…

The San Francisco-based blockchain giant Ripple has partnered with MoneyMatch, a Malaysian cross-border payment platform, to expand RippleNet’s payment services to more than 120 countries.   RippleNet to Be Used in Over 120 Countries The news of the partnership was announced…

The Malaysian Palm Oil Council (MPOC) recently partnered with BloomBloc, a blockchain development platform to build a blockchain-based app that would track the palm oil supply chain. With the new DLT app, accountability, traceability, and transparency are certain in the…