Malaysia Fast-Tracks Crypto Growth with CZ’s Visit
- Jun hao
- 25 minutes ago
- 2 min read
On April 22, 2025, Binance founder Changpeng Zhao (CZ) appeared at a cryptocurrency industry event hosted by MX Global at the Ritz-Carlton Hotel in Kuala Lumpur. This marked his first public appearance in Malaysia since pleading guilty to violating U.S. anti-money laundering laws and stepping down as Binance CEO last year.
During the event, CZ advocated for more relaxed cryptocurrency regulations and highlighted the regulatory models of Middle Eastern countries like Dubai and Bahrain as examples to follow. He noted that Dubai's Virtual Assets Regulatory Authority (VARA) granted Binance a full license in 2024, demonstrating the region's openness to digital assets.
On the same day, CZ met with Malaysian Prime Minister Datuk Seri Anwar Ibrahim to discuss the potential of positioning Malaysia as a regional cryptocurrency hub. Anwar expressed on social media his willingness to continue discussions with agencies such as the Securities Commission, Bank Negara Malaysia, and the Ministry of Digital to explore ways to facilitate and promote responsible innovation.
MX Global is one of four digital asset exchanges approved by the Securities Commission Malaysia. In 2022, Binance made a strategic investment in MX Global to support the development of the local crypto ecosystem.
As the United States adopts a more crypto-friendly stance under the Trump administration, global regulators are reassessing their policy positions. CZ pointed out that this shift compels other countries to be more competitive in attracting talent and investment.
Securities Commission Malaysia Chairman Datuk Mohammad Faiz Azmi expressed support for the Prime Minister's commitment to exploring a digital finance policy embracing cryptocurrency and blockchain technology. He stated that the SC is ready to work with relevant agencies to further develop Malaysia as an innovative and responsible digital finance hub.
CZ's visit and discussions with government leaders mark a significant step for Malaysia in cryptocurrency regulation and innovation. MyITS will continue to monitor developments in this area, providing investors with the latest market updates and analysis.
News source: theedgemalaysia.com
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