Binance is operating without authorisation from Malaysia’s Securities Commission

By stvleong | Steven Leong | 18 Jul 2020

Malaysia's Securities Commission (SC) has listed crypto-exchange Binance on its list of unauthorized firms.

The regulator said Binance is "operating a recognized market without permission." With Malaysian ringgit, Binance provides fiat-to-crypto and peer-to-peer crypto-trading services.

It is not clear whether Binance will continue or needs to stop providing support for Malaysian ringgit. Once it was reached the company declined to comment. The Block has reached out to the SC and should we hear back, will update this article.

Brazil's Securities and Exchange Commission has said earlier this month that Binance is illegal and has thus barred it from selling derivative products in the country.

In March, a similar alert was provided by Malta 's financial regulator against Binance, stating the exchange is not allowed to operate in the country and is not subject to its regulatory oversight.

How do you rate this article?



I'm a Digital Marketing Lead | Crypto Trader | Affiliate Marketer and love to write posts related to crypto and anything that is interesting.

Steven Leong
Steven Leong

Passionate and love to write articles related to crypto news, articles, guides, reviews, price predictions and more. Follow me and like my post.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.