Cryptocurrency exchange Binance faced big problems last year after being forced to curtail the service of traders in several countries at once under pressure from supervisory authorities.
In 2022, Binance suspended its operations in Israel as local authorities demanded that it comply with its anti-money laundering laws. However, the company has decided to return to the Malaysian market, which it left last summer also because of the pressure from local regulators.
Binance has acquired a stake in MX Global, a crypto company registered in the country as a digital service provider. The Malaysian Securities Commission has issued a license to this company as part of the industry regulation legislation.
Now Binance will try to gain a foothold in this market, where the amount of capital investment in cryptos has increased significantly.