Malaysia Unleashes Crypto Chaos: Exchanges Now Rule the Roost! 🚀

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Now, hold your horses, here’s the skinny

  • Malaysia’s regulators, ever the daring adventurers, have decided to let crypto exchanges play the role of kingmaker. They’ll now list tokens on their own, faster than a greased pig at a county fair. But don’t get too excited-there’s a catch, of course. 🐷
  • The old days of regulators playing referee are gone. Now, exchanges must do their homework, like a kid studying for a test they’re terrified to fail. Strict checks, risk management, and clear rules for kicking tokens out of the club? Sounds like a recipe for chaos. 🕵️‍♂️
  • Fasset’s Shariah-compliant digital banking license? It’s like a golden ticket in a candy store. Malaysia’s crypto scene is growing so fast, it’s giving the stock market a run for its money. 🚀

Malaysia’s regulators, ever the daring adventurers, have decided to let crypto exchanges play the role of kingmaker. They’ll now list tokens on their own, faster than a greased pig at a county fair. But don’t get too excited-there’s a catch, of course. 🐷

Wong Huei Ching, a woman with more confidence than a cat on a hot tin roof, announced this at the Finternet 2025 Asia Digital Finance Summit. She’s basically saying, “Let’s throw caution to the wind and see what happens!” 🌪️

The goal? To make token listings quicker than a squirrel chasing a nut. More assets? Sure! But don’t expect the regulators to hand over the reins without a fight. They’re still watching, like a hawk with a cup of coffee. ☕

“Obviously, it comes with accountabilities,” Huei Ching said, as if she were lecturing a toddler. Exchanges must now act like responsible adults, or else. Good luck with that. 🤷‍♂️

Building on half a decade’s worth of regulatory experience

Malaysia started regulating crypto in 2019, which is like trying to teach a parrot to speak. Five years later, they’ve learned enough to say, “Hey, maybe we should let the exchanges handle this.” 🦜

Investors are clamoring for more crypto products, and the SC is like, “Alright, fine, but don’t blame us if the whole thing collapses.” The new rules? A wild gamble with a safety net. 🎰

Under the new proposal, exchanges must now act like detectives, checking trading histories, audits, and AML controls. It’s like giving them a magnifying glass and saying, “Find the bad guys!” 🔍

Faster listings, more tokens and increased accountability

The SC wants to cut down on the wait times for token approvals, which used to take longer than a toddler’s nap. Now, exchanges will be the ones deciding which tokens get a spot on the list. Good luck with that. 🕒

This could attract more token issuers, who are probably thinking, “Finally, a place where I don’t have to beg for approval!” But don’t expect the exchanges to be any less chaotic. 🌪️

Institutional push and banking collaboration

The SC isn’t letting go of its grip entirely. They want exchanges to act like responsible adults, or else. It’s like telling a toddler, “You can have ice cream, but only if you promise not to spill it.” 🍦

Wong says the goal is to combine the credibility of banks with the innovation of crypto. It’s like mixing oil and water, but with more glitter. ✨

Fasset gains on Malaysia’s plan

Fasset, the Dubai-based digital finance platform, just got a temporary banking license. Now they can operate a Shariah-compliant digital bank with stablecoins. It’s like giving a kid a credit card and hoping they don’t buy a lifetime supply of candy. 🍬

Fasset’s annualized volume is $6 billion, and they’re aiming for $24 billion by 2026. If they pull it off, they’ll be the talk of the town. Or at least the talk of the crypto world. 📈

Malaysia is trying to build a larger, more efficient crypto market. But let’s be honest, it’s a high-stakes game with a lot of moving parts. Good luck, everyone. 🤞

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2025-11-17 16:21