Update: As of March 2019, all cryptocurrency exchanges operating in Malaysia needs to be regulated by Securities Commission Malaysia. All the companies listed below with the exception of the 3 approved by Securities Commission Malaysia has been ordered to cease operations.
3 Cryptocurrency Exchanges Granted Conditional Approval from Securities Commission Malaysia
Bank Negara Malaysia has published the list of cryptocurrency exchanges in Malaysia that has registered itselves as a reporting entity with the regulator. This follows our report issuance of the policy paper titled “Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies (Sector 6)”.
Registered Entity is Not The Same As Regulated
While these entities are registered with the central bank we would like to reiterate as we did in our previous articles that, Bank Negara Malaysia emphasises in this policy paper that reporting organisations i.e exchanges are not allowed to portray itself as a licensed entity under the central bank though they have reporting obligations to the regulator.
Only Meant to Counter Money Laundering and Terrorism Financing
Investors in cryptocurrencies should also be mindful that since these exchanges are only reporting entities and not regulated entities, there will be no elements of consumer protection the will be no formal channels in which investors can seek redress should there be any losses incurred when dealing with cryptocurrencies.
The regulation also does not address cyber-security aspects, which means if any losses were to be incurred due to hacks, it is likely that Bank Negara won’t be able to intervene and protect the consumers. The policy paper and having exchanges report to Bank Negara Malaysia is only primarily geared at preventing money laundering and terrorism financing.
Licenses to Operate a Cryptocurrency Exchange will be issued by Securities Commission Malaysia
Following the gazette and the amended Guidelines on Regconised Markets issued early 2019, cryptocurrency exchanges are to be regulated by Securities Commission Malaysia. which is the same that is used to regulate Equity Crowdfunding and P2P lending players. Under the same guideline, the regulator has amended a section to introduce new requirements for crypto exhanges.
With the issuance of this new guideline, we’ve already observed some instances of several exchanges exiting the market.
Potential Links with Companies on BNM’s Watch List
It’s also worth mentioning that some of these reporting institution may have some links to companies that are listed in Bank Negara Malaysia Watchlist.
Take BCMY for example, the president’s Linkedin profile seems to indicate that he is also the co-founder of Dinar Dirham.
BNM’s Watchlist include Dinar Dirham’s name and website link, and within the website it shows that the holding company is Gold Prime Technology Limited, a name which is also mentioned in the same Linkedin Profile.
Many in the community have also raised concerns about Everus’ legitimacy, though we are unable to conclusively prove their legitimacy one way or the other.
Having said that, it is prudent for us to once again reiterate that, this list from Bank Negara Malaysia should not be viewed as an endorsement from the regulator nor from us.
With that out of the way, let us have a look at some of the cryptocurrency exchanges in Malaysia registered with Bank Negara Malaysia:
Cryptocurrency Exchanges Registered with Bank Negara Malaysia
Registered Name: ADD Blockchain
Website: http://www.addwill.co/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum, Ripple, DASH, zCash, Bitcoin Cash
Registered Name: BCMY Pte. Ltd.
Website: http://bcmy.io/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum, Ripple, DASH, zCash, Bitcoin Cash
Registered Name: BitMalay Sdn Bhd
Website: N/A
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Bitcoin Cash,
Stellar, Cardano, Tron, Litecoin, Ethereum
Registered Name: Bitazza Sdn. Bhd.
Website: http://www.bitazza.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash
Registered Name: Big X Blockchain (M) Sdn. Bhd.
Website: N/A
Traded Cryptocurrency Listed on BNM:Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash
Registered Name: Bitpoint Malaysia Sdn Bhd
Website: https://www.bitpoint.com.my/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Bitcoin Cash,
Litecoin
Registered Name: BLOKMY Sdn. Bhd
Website: https://blokmy.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Bitcoin Cash,
Litecoin
Registered Name: BXM Sdn Bhd
Website: https://www.exchangemalaysia.io/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum
Registered Name: B4U EXC (M) Sdn. Bhd.
Website: http://www.b4uwallet.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Bitcoin Cash
Registered Name: Belfrics Malaysia Sdn. Bhd.
Website: https://malaysia.belfrics.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Bitcoin Cash,
Litecoin, Berlium tokens (BET)
Registered Name: Bong Technology Sdn. Bhd
Website: https://bitnicx.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Bitcoin Cash,
Litecoin, Berlium tokens (BET)
Registered Name: PayX Capital (M) Sdn Bhd
Website: https://my.bqex.pro/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Tether, KKG, FCC, SEXC,
DAC, TL, PBS, SOP, Rhino, MQ, CWV,
PFU, AAA, TEC, AGB, MT, MIMT, KOLT,
CC, WAR, HKDT, FTI, OSD, ZUSD, FED,
TTC, MCS, JAC
Registered Name: Cayame Sdn Bhd
Website: N/A
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash
Registered Name: Coinut Sdn. Bhd.
Website: https://coinut.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Zcash, Litecoin, USDT,
Ether Classic, Monero
Registered Name: Arbor Digital Sdn. Bhd.
Website: https://coins.my/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum
Registered Name: Coinceo Sdn. Bhd. (Ceased Operation)
Website: https://www.coinceo.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Litecoin, Bitcoin Cash
Registered Name: CSL Block Chain Technology Sdn. Bhd.
Website: http://www.cslblockchain.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash, LiteCoin, EOS, CARDANO
Registered Name: Chako Global Sdn Bhd
Website: https://www.coinhako.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum
Registered Name: Blockchain Specialist Sdn. Bhd.
Website: https://coinexy.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Litecoin, Dogecoin
Registered Name: Dacxi Consulting Sdn. Bhd
Website: N/A
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Bitcoin Cash
Registered Name: Digital Fintech Sdn. Bhd.
Website: http://www.df.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash
Registered Name:Quest Mining Technologies Sdn. Bhd.
Website: https://www.exqube.com/
Traded Cryptocurrency Listed on BNM: ETH
Registered Name: Fintech Capital Sdn. Bhd.
Website: https://www.fintechcapital.co/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, DASH, Bitcoin Cash
Registered Name: FINX Blockchain Sdn. Bhd.
Website: https://www.fintechcapital.co/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple
Registered Name: Everus Technologies Sdn. Bhd.
Website: www.everus.org
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum, Litecoin, EVR
Registered Name: Hartatek Resources Sdn. Bhd
Website:https://www.ezyx.biz/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, DDkoin
Registered Name: Futurevest Sdn Bhd
Website: Website Unvailable
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, QTUM, BUC
Registered Name: Globa Capital Berhad
Website:http://www.globahome.com//
Traded Cryptocurrency Listed on: Ethereum
Registered Name:Blockchain Street Sdn. Bhd.
Website: https://getcoinapp.com/
Traded Cryptocurrency Listed on BNM: BTC
Registered Name:Bit Trade Enterprise Sdn. Bhd. (Ceased Operation)
Website: https://gomex.io/
Traded Cryptocurrency Listed on BNM: BTC
Registered Name:Red Puffer SDN. BHD.
Website: http://www.ibrfintech.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum
Registered Name:Jonvi Marketing Sdn. Bhd.
Website: http://www.jonvi.com/
Traded Cryptocurrency Listed on BNM: BTC, JE Token
Registered Name: BitX Malaysia Sdn. Bhd.
Website: https://www.luno.com/en/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Bitcoin Cash
Registered Name: Shaneja Capital Sdn. Bhd.
Website: https://mumain.io/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum
Registered Name: MBW Capital Sdn. Bhd.
Website: https://www.mbwex.io/Client/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Bitcoin Cash,
Apollo, Pandora, Litecoin, Classic, EOS,
Cardano, Neo, Monero, Qwark
Registered Name: Blockchain Developer Sdn. Bhd.
Website: https://mypw.io/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Pitis, Ether Classic
Registered Name:Arxchange Sdn. Bhd, Mx Global Sdn Bhd
Website: https://mx.exchange
Traded Cryptocurrency Listed on BNM: Bitcoin, Ethereum
Registered Name:Sky 88 Marketing (Sole Proprietor)
Website: https://novadex.io/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether
Registered Name: Numex Sdn. Bhd.
Website: https://www.numoney.my/my
Traded Cryptocurrency Listed on BNM: Ethereum
Registered Name: OpenBit Sdn. Bhd
Website: http://www.openbit.com.my/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Bitcoin Cash
Registered Name: OurCoin BlockChain Technology Sdn. Bhd
Website: http://www.openbit.com.my/
Traded Cryptocurrency Listed on BNM: Bitcoin
Registered Name: Peer Direct Sdn Bhd
Website: http://www.overswitch.io/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Bitcoin Cash, Nitro
Registered Name: PinkEXC (M) Sdn Bhd
Website https://www.pinkexc.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Litecoin, Dashcoin, Dogecoin
Registered Name: Rocket Integration Technology Sdn. Bhd.
Website https://slithex.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash, Ethereum, Litecoin,
Ethereum Classic, Monero, USD Tether,
EOS, IOTA, NEO, OmiseGo, AltCoin
Registered Name: Sinegy Technologies (M) Sdn. Bhd.
Website https://sinegy.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Tether, Ripple, Bitcoin
Cash
Registered Name: Stella Technology Sdn. Bhd.
Website: https://stellatech.io/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Litecoin
Registered Name: Tide Digital Sdn. Bhd
Website: https://www.tidebit.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Bitcoin Cash, XPA, CBT,
EOS
Registered Name: Tokenize Technology (M) Sdn. Bhd
Website https://tokenize.exchange/#/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Bitcoin Cash, Litecoin
Registered Name: UDAX International Sdn. Bhd.
Website: http://www.udax.my/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, UDT
Registered Name: UPbit
Website: http://my.upbit.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash
Registered Name: Unicoin DCX Sdn. Bhd
Website: https://www.unicoindcx.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Bitcoin Cash
Registered Name: UNQEX Sdn Bhd
Website: https://www.unqex.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, Litecoin, BitcoinGold, Bitcoin Cash, Augur, Omisego,TenX, Golem, Basic Attention Token,Kiber Network, Ox, Funfair, Civic, EOS, Uniq, TetherUS, UNQ
Registered Name: Vardiz Commerce Sdn. Bhd
Website: http://www.vardiz.com/
Traded Cryptocurrency Listed on BNM: Bitcoin
Registered Name: Metro Hexagon Sdn. Bhd.
Website: https://vhcex.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether
Registered Name: Xbit Asia Sdn. Bhd.
Website: http://www.xbitasia.com/
Traded Cryptocurrency Listed on BNM: Bitcoin
Registered Name: NIEXX Sdn Bhd.
Website: http://www.yoxex.com/
Traded Cryptocurrency Listed on BNM: Bitcoin, Ether, Ripple, DASH, Zcash,
Bitcoin Cash
We’re certain as time progresses more companies will be registered in Bank Negara list of reporting entities and we’ll keep our readers posted when there are more developments, if you’re interested to read Luno’s official press statement on being a reporting entity you can also check it out here.
Editor’s Note: This is an updated from an article written in April 2018. It was last updated on 28 February 2019
