Malaysia Crypto Trading Hits Record $2.9B as Regulator Proposes Sweeping DAX Reforms

Key Points

1. Malaysia's Securities Commission (SC) proposes reforms to allow certain tokens to list on regulated Digital Asset Exchange (DAX) platforms without prior approval, aiming to reduce time-to-market.

2. The consultation period for these reforms runs from June 30 to August 11, 2025, as part of broader efforts to position Malaysia as a leader in responsible fintech innovation.

3. Bank Negara Malaysia (BNM) announced plans in March 2025 to explore asset tokenization, digital tokenized deposits, and CBDCs, aligning with its 2022-2026 financial sector strategy.

4. Power theft linked to illegal crypto mining surged by 300%, with 2,397 cases reported in 2024, up from 610 in 2018, highlighting regulatory gaps in mining oversight.

5. The SC's proposed changes include enhanced governance obligations for DAX operators to ensure compliance with legal and risk requirements.