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Malaysia is one of the countries that has been actively exploring its cryptocurrency regulatory landscape. The country has a unique approach to cryptocurrencies and does not recognize it as legal tender. Instead, it treats them as securities under the Prescription Order 2019 (amended in 2025). This means that buying and owning crypto is legal in Malaysia.
As the digital assets market continues to grow, the Securities Commission of Malaysia (SC) has been actively developing a comprehensive framework for all digital asset-related activities. In July 2025, Bank Negara Malaysia (BNM) published its Working Papers (WP3/2025), outlining the potential use of Bitcoin and XRP as means of payment outside the traditional banking system in the future.
In addition to this development, the SC is working on a consultation paper for public feedback on tokenized capital market products. This new regulatory framework will also cover digital asset exchanges, IEO platforms, and other related services.
Source: coinpedia.org
