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Binance is in talks with Malaysian regulators over a license, seeking to re-enter the local market

PANews October 31 reported, citing Bloomberg, that Binance is in talks with Malaysian regulators to obtain authorization to operate in the country. A Binance spokesperson said that over the past 10 months, Binance has been engaging with the Securities Commission Malaysia and Bank Negara Malaysia to explore a licensed pathway for offering products and services in Malaysia. The discussions include “the feasibility and structure of a licensed business model in Malaysia.” If approved, Binance would be able to officially re-enter the Malaysian market, where it has been restricted for more than 5 years. 2021 year July, the Securities Commission Malaysia found that Binance was operating a digital asset exchange illegally and ordered it to cease operations in Malaysia, including stopping all media and marketing activities. The commission 2024 removed Binance from its investor alert list in a year, but earlier this month added it back without stating a reason. Malaysian lawmaker Lim Guan Eng once wrote to the Securities Commission...