Jurisdiction reference
Malaysia
Regulator: SC Malaysia. License/registration context: Licensing. 49 VASP/entity records are tracked by Plexo Institute in Malaysia. Official registry source: SC DAX Register. Data last updated: 2026-08-28.
Malaysia's stablecoin regulation remains in draft/exploration phase without dedicated statutory legislation. The framework is primarily exploratory through BNM's 2025–2027 tokenization roadmap, which includes MYR-backed stablecoin pilots. BNM's dual-principle approach emphasizes "singleness of money" to maintain fiat-crypto interchangeability at par value. Regulated institutions only; institutional participation mandatory. Permissioned environments with KYC/AML safeguards required. Currently, stablecoins operate in regulatory gray area under existing financial, trust, and AML/CFT laws administered by both BNM and Securities Commission Malaysia. Digital Asset Innovation Hub (DAIH) launched in 2025 as the primary sandbox for stablecoin testing. Public consultation period extends through March 1, 2026.
Regulatory Status
- Jurisdiction code
- MY
- Regime
- Licensing
- Regulator
- SC Malaysia
- Governing law
- Capital Markets and Services Order (Digital Currency & Token) 2019
- Travel Rule
- Legislated
- Tracked entities
- 49
- Recognized stablecoin backing
- fiat-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- MYR
Regulatory approach
BNM (primary): Central bank responsible for payment systems, financial stability, monetary policy, and reserve management oversight. Emphasized that privately issued digital assets are not legal tender. SC (secondary): Securities regulator overseeing digital asset exchanges (RMO-DAX), digital asset custodians (DAC), and capital market applications. The two agencies coordinate through the Digital Asset Innovation Hub and Industry Working Group on Tokenisation.
Relationship Graph
Jurisdiction FAQ
Who regulates Malaysia?
The current Plexo Institute record lists SC Malaysia as the regulator for Malaysia.
How many VASPs are tracked in Malaysia?
49 VASP/entity records are tracked by Plexo Institute in Malaysia.
What is the Travel Rule status in Malaysia?
The current Plexo Institute record lists the Travel Rule status for Malaysia as Legislated.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.