Analysis
Malaysia Told 40 Crypto Exchanges to Stop Operating in 2019
The SC's lists of exchanges that had to cease operations on 1 March and 1 June 2019, including Upbit Malaysia.
The short version: The SC lists 40 exchanges as not permitted to continue operations from 1 March 2019 (21) or 1 June 2019 (19) (SC list). They included Upbit Malaysia. The SC's list of 43 exchanges in the transitional period from 15 January to 1 March 2019 also includes 3 names on today's register: Luno Malaysia, MX Global, SINEGY DAX.
Two Shutdown Dates
The SC's page lists 21 exchanges not permitted to continue operations from 1 March 2019 and 19 from 1 June 2019. Entities not approved by the SC had to cease all activities immediately and return all monies and assets collected from investors (SC list).
One name appears on two lists: MX Global Sdn. Bhd. is number 13 in the list of exchanges not permitted from 1 June 2019 (with an address in Kuala Lumpur) and is also a registered exchange today (with an address in Selangor). The SC's page does not explain this.
Not Permitted From 1 June 2019
| No. (table A or B) | Firm | State |
|---|---|---|
| 1 | AES Signatum Berhad | Kuala Lumpur |
| 2 | Arbor Digital Sdn. Bhd. | Kuala Lumpur |
| 3 | B4U EXC (M) Sdn. Bhd. | Kuala Lumpur |
| 4 | Belfrics Malaysia Sdn. Bhd. | Kuala Lumpur |
| 5 | BitPoint Management Sdn. Bhd. | Kuala Lumpur |
| 6 | BLOKMY Sdn. Bhd. | Sarawak |
| 7 | Chako Global Sdn. Bhd. | Selangor |
| 8 | Ezytronic Sdn. Bhd. (World Cloud Ventures Sdn. Bhd.) | Selangor |
| 9 | Finx Capital Sdn. Bhd. | Kuala Lumpur |
| 10 | GetCoinApp Sdn. Bhd. | Kuala Lumpur |
| 11 | Giga Ex Sdn. Bhd. | Kuala Lumpur |
| 15 | MBAEX Online Pte Limited (Tezatech Sdn. Bhd.) | Selangor |
| 12 | MCP International Sdn. Bhd. | Selangor |
| 3 | MX GlobalMX Global Sdn Bhd | Selangor |
| 14 | Pinkexc (M) Sdn. Bhd. | Perak |
| 16 | UDAX International Sdn. Bhd. | Selangor |
| 17 | Upbit MalaysiaUpbit Malaysia Sdn. Bhd. | Kuala Lumpur |
| 18 | Vardiz Commerce Sdn. Bhd. | Selangor |
| 19 | Xbit Asia Sdn. Bhd. | Selangor |
Not Permitted From 1 March 2019
| No. | Firm | State |
|---|---|---|
| 1 | BCMY (M) Sdn. Bhd. | Selangor |
| 2 | Big X Blockchain (M) Sdn. Bhd. | Selangor |
| 3 | Bit Bunks Sdn. Bhd. | Perak |
| 4 | Blockchain Street Sdn. Bhd. | Kuala Lumpur |
| 5 | BXM Sdn. Bhd. | Selangor |
| 6 | Coinceo Sdn. Bhd. | Kuala Lumpur |
| 7 | Coinut Sdn. Bhd. | Kuala Lumpur |
| 8 | CSL Block Chain Technology Sdn. Bhd. | Selangor |
| 9 | Digital Fintech Sdn. Bhd. | Melaka |
| 10 | Everus Technologies Sdn. Bhd. | Selangor |
| 11 | Globa Capital Berhad | Kuala Lumpur |
| 12 | Hartatek Resources Sdn. Bhd | Sabah |
| 13 | Jonvi Marketing Sdn. Bhd. | Selangor |
| 14 | Numex Sdn. Bhd. | Kuala Lumpur |
| 15 | OpenBit Sdn. Bhd. | Kuala Lumpur |
| 16 | OurCoin BlockChain Technology Sdn. Bhd | Penang |
| 17 | Quest Mining Technologies Sdn. Bhd. | Johor |
| 18 | Rocket Integration Technology Sdn. Bhd. | Selangor |
| 19 | Tide Digital Sdn. Bhd. | Kuala Lumpur |
| 20 | UNQEX Sdn. Bhd. | Selangor |
| 21 | VH Technologies Sdn. Bhd. | Kuala Lumpur |
Names and states as listed by the SC. The page gives no reasons for individual decisions.
Sources
- SC, List of Registered Digital Asset Exchanges www.sc.com.my
- SC, Digital Assets www.sc.com.my
- SC release on Binance, 30 Jul 2021 www.sc.com.my
- SC release on Bybit, 27 Dec 2024 www.sc.com.my
- SC release on revised DAX guidelines, 20 May 2026 www.sc.com.my