Malaysia's Securities Commission ordered Binance to stop operating in the country in July 2021, after finding it was illegally running a digital asset exchange. The exchange is now in talks to obtain a Malaysian license, aiming to return after a five-year absence.

As recently as July 2026, Malaysia's Ministry of Finance said Binance was not licensed or registered with the SC to carry out capital market activities, and that its website and app remained blocked for local users.

A license would reopen a regulated Southeast Asian market to the largest exchange by trading volume. Until then, Malaysian users can only trade on SC-registered platforms.