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.