KUALA LUMPUR, July 17 — Cryptocurrency and blockchain giant Binance has not been licensed or registered with the Securities Commission Malaysia (SC) to carry out capital market activities in Malaysia, said the Ministry of Finance (MOF). 

The MOF said Binance’s website and application remain blocked for users in Malaysia. 

“The SC will continue to monitor developments and take appropriate action in the event of any violations of the law or new risks to local investors,” said the ministry in a written answer published on the Parliament’s website yesterday. 

The MoF said this in response to a question from Lim Guan Eng (PH-Bagan) regarding SC’s plan to grant an operating licence to Binance, and the reasons for granting approval following Binance’s inclusion in the Investor Alert List.

The SC subsequently removed Binance from the Investor Alert List in 2024 after the company was found to be no longer conducting any regulated activities in Malaysia.

MOF said the SC has practised an open policy in encouraging the participation of all capital market participants, including innovative players, in the development of the Malaysian capital market ecosystem.

It said the SC remains committed to engaging with global players who wish to participate in the Malaysian capital market. — Bernama