PETALING JAYA: Securities Commission Malaysia has revised its Guidelines on Recognized Markets to strengthen regulation of Digital Asset Exchanges (DAX), aiming to speed up product launches while tightening investor protection and operational standards.
The regulator said the enhanced framework would improve the competitiveness of regulated DAX operators while strengthening governance, client asset safeguards and overall market resilience amid growing institutional participation in digital assets.
Under the revised guidelines, DAX operators will face higher requirements for financial stability, shareholding suitability and management proficiency, while investors will gain access to formal dispute resolution through the Financial Markets Ombudsman Service beginning next year.
The SC also said it had taken administrative action against four unregistered DAX operators and worked with technology firms including Google to restrict unregistered platforms from promoting services to Malaysians via social media channels starting April 14, 2026.
SC chairman Datuk Mohammad Faiz Azmi said the digital asset industry must evolve with stronger institutional discipline and governance standards.
“Our enhanced guideline demands resilient and credible partners within Malaysia’s financial market ecosystem. As the market grows more inclusive and innovative, it must be balanced with the highest standards of governance,” he said in a statement.
Malaysia’s regulated digital asset market recorded total trading value of RM17.14 billion in 2025, up 23% from RM13.93 billion in 2024.
The SC said the revised framework aligns with the Capital Market Masterplan 2026-2030 target of expanding Malaysia’s capital market size to between RM5.8 trillion and RM6.3 trillion by 2030, with digital assets forming a key component of future market growth.
