Binance exchange is ready to come back in the crypto Industry of Malaysia after half a year of the ban but it will take some time to understand the local rules and regulations of Malaysia.
Binance is a popular crypto exchange, which is standing at the first rank in the crypto industry by 24 hours trading volume. Right now this exchange is known to provide quality crypto services to pro users at low fees. In 2021, Exchange faced huge scrutiny threats but now exchange is moving confidently with its big compliance-based team to operate services under more compliance.
On 1 March, Changpeng Zhao, CEO of Binance exchange, quoted a press release of Binance & Cuscapi Berhad and wrote “Hello Malaysia”.
The press release noted that Binance exchange and Cuscapi Berhad secured a significant stake in MX Global.
MX Global is a leading digital assets exchange, which is fully licensed and operating its services under the compliance of Malaysia’s local regulators more perfectly. Securities Commission (SC) recognized MX Global is popularly known to provide a better liquidity-based platform for crypto investors in Malaysia out of four leading exchanges in the country.
In July 2021, Malaysia’s regulators noted that Binance was not following rules and regulations perfectly and also operating services under non-compliance, so ordered it to shut down its operations.
A representative of Binance exchange shared some key points of this step of Binance exchange to go with MX Global and noted that it will help Binance to understand the local regulatory system of Malaysia to operate services under high compliance.
“This is part of Binance’s initiatives to cooperate with regulators. By working with regulated platforms, we are supporting local representatives to further expand their businesses while they stay compliant.”
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