Binance is in discussions with Malaysian regulators regarding licensed operations, aiming to re-enter the local market.

Bloomberg, citing a statement from Binance, reported that the company is in discussions with local regulators in Malaysia regarding the feasibility and structural setup of a licensed business model, aiming for an official return to the market. According to a Binance spokesperson, the firm has maintained ongoing dialogue with the Securities Commission Malaysia (SCM) and Bank Negara Malaysia (BNM) over the past 10 months—but did not specify the exact license category it intends to apply for.

Back in July 2021, the SCM ruled that Binance had operated a digital asset trading platform in Malaysia without proper authorization and ordered it to cease all business operations and marketing activities in the country. Although the SCM removed Binance from its investor alert list in 2024, it reinstated the exchange on the list this month—without disclosing the rationale behind the decision.

In response to a parliamentary inquiry by Malaysian MP Lim Guan Eng—calling for an investigation into whether Binance’s P2P platform facilitates unofficial Malaysian ringgit (MYR) transactions under other currency names—the exchange confirmed it had proactively delisted a Papua New Guinean kina (PGK) trading pair that maintained an informal peg to the MYR.

A separate, more recent complaint involves a non-Malaysian user based in Romania.