How to buy Bitcoin in Malaysia: the 5 SC-registered exchanges and ringgit deposits explained

"Is it legal to buy crypto in Malaysia?" "Luno or Tokenize?" "Can I still use Binance?" Those are the three questions Malaysian readers send us most. The short answers: yes, but only through exchanges registered with the Securities Commission Malaysia (SC); Tokenize Malaysia is now called KDX; and neither Binance nor Bybit is on the register. Below are the rules, a ranking of the exchanges, the deposit options and the tax position, all in one place.

01Malaysia crypto at a glance

Malaysia regulates crypto as securities. Since the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 took effect on 15 January 2019, the SC has supervised exchanges, while Bank Negara Malaysia (BNM) stresses that crypto is not legal tender and oversees anti-money-laundering reporting.

02SC rules and the 5 registered exchanges

To operate a digital asset exchange in Malaysia, a company must register with the SC as a Recognised Market Operator (RMO-DAX). Operating without registration breaches section 7(1) of the Capital Markets and Services Act 2007 (CMSA). The SC's list page is blunt: entities that have not been approved should cease all activities immediately.

On 20 May 2026 the SC issued the 14th revision of its Guidelines on Recognized Markets, effective immediately. Exchanges that meet minimum criteria may now list some tokens without prior SC concurrence, while capital and operational requirements went up.

According to the SC's list of registered digital asset exchanges, last updated on 20 July 2026, Malaysia has five legal exchanges:

Source: SC list, checked 1 Oct 2026. Torum International held conditional approval but disappeared from the register around June 2026; its exchange never launched. Bursa Malaysia does not operate a crypto exchange.

Separately, BNM set up a Digital Asset Innovation Hub (DAIH) in 2025 and in 2026 onboarded three wholesale pilots: Standard Chartered Malaysia with Capital A on a ringgit stablecoin for cross-border B2B payments, Maybank on tokenised deposits and CIMB on tokenised-deposit settlement. BNM plans to clarify its policy on ringgit stablecoins by the end of 2026 — but no retail ringgit stablecoin has been approved yet.

03Best crypto exchanges in Malaysia, ranked

We score licence and safety, real costs, ringgit deposits and withdrawals, coin choice and app experience. Local registered exchanges come first for a simple reason: they are SC-supervised, they support FPX and DuitNow, and you have somewhere to complain if things go wrong. Scores are editorial opinions — see our methodology.

1. Editor’s pick · lowest fees

   HATAHATA Digital Sdn Bhd · Kuala Lumpur

   We verified these fees on HATA’s own page: 0% maker and 0.40% taker below RM10,000 of 30-day volume, falling to 0.10% at higher tiers. Funding is by FPX (RM2 to RM250,000 per transaction) or e-wallet (RM2 to RM1,000, with a convenience fee), and HATA advertises Shariah certification from Amanie Advisors. Instant buy costs about 1%.

   • Maker 0% / taker 0.40%
   • FPX + e-wallet
   • Minimum withdrawal RM10
   • Shariah-certified (advertised)
   8.7/10

   Official site ↗
2. Best-known brand

   LunoLuno Malaysia Sdn Bhd · Petaling Jaya

   The first platform to win full DAX approval in Malaysia and still the name most people know. It takes FPX, Touch ’n Go eWallet and bank transfers, and MYR withdrawals reportedly cost just RM0.10. The big complaint is Instant Buy at about 2% — use the Exchange with limit orders instead, where taker fees are reportedly 0.13–0.60% depending on tier.

   • Instant Buy about 2%
   • Exchange mode is cheaper
   • Touch ’n Go funding
   • Withdrawal about RM0.10
   8.4/10

   Official site ↗
3. KDXKinetic DAX · formerly Tokenize Malaysia

   Renamed from Tokenize Technology (M) to KDX on 4 August 2025, this is a separate Malaysian company — not the Singapore Tokenize that collapsed. Kenanga Investment Bank reportedly owns about 19%. Third-party sources put fees at 0.1% maker and up to 0.8% taker, with free MYR deposits and withdrawals and around 23 coins.

   • Formerly Tokenize MY
   • MYR in/out reportedly free
   • About 23 coins
   • Fees: check official page
   7.9/10

   Official site ↗
4. SINEGYSINEGY DAX Sdn Bhd · George Town

   Penang-based, with DuitNow, FPX and QR deposits and more advanced order types than most. The coin list is tiny — five assets including BTC, ETH, XRP, SOL and ADA — and sources disagree on fees (0–0.25% maker, 0.25–0.5% taker), with a reported RM30 minimum trade.

   • Only 5 coins
   • DuitNow / FPX
   • Advanced order types
   • Fee reports conflict
   7.3/10

   Official site ↗
5. MX GlobalMX Global Sdn Bhd · Petaling Jaya

   Accepts DuitNow, IBFT and FPX, with free deposits and reportedly RM0.10 withdrawals. It lists only five coins — BTC, ETH, XRP, SOL and WLD — which suits people who want the majors in a simple interface. Fee reports range from 0.2% to 0.5% taker.

   • Only 5 coins
   • Free deposits
   • Fees: check official page
   7.1/10

   Official site ↗
6. International card option · not SC-registered

   CEX.IOFounded 2013 · international platform

   A long-running international exchange where you can buy crypto with Visa, Mastercard, Apple Pay or Google Pay — useful if you want a card purchase or coins local platforms don’t list. To be clear: it is not registered with the Securities Commission Malaysia. Malaysian customers are served by its international entity, CEX OVRS LLC (Nevis), so local investor protection does not apply. Fiat is USD, EUR and GBP only, so a ringgit card incurs FX costs.

   • Card 0.49–4.99% + service charge
   • Spot 0.15% / 0.25%
   • No FPX / DuitNow
   • Not SC-registered
   6.9/10

   Open account→ Read →

Apart from HATA, fees come from third-party sources that disagree with one another. As of October 2026 — check each official fee page.

04Luno vs Tokenize (KDX): which should you pick?

Plenty of people still search "Luno vs Tokenize", so first the name. Tokenize Malaysia was renamed KDX (Kinetic DAX) on 4 August 2025, and it is a separate, SC-registered Malaysian company. The Tokenize Xchange that collapsed in Singapore in 2025 was a different business — the story is in our Singapore guide.

05How to buy Bitcoin with FPX or DuitNow, step by step

1. Pick an exchange from the SC list

   Choose from HATA, Luno, MX Global, SINEGY or KDX, and confirm on the SC website that it is still registered.

2. Sign up and verify your identity

   Have your MyKad or passport ready, follow the photo and selfie steps, and expect approval the same day in most cases.

3. Deposit ringgit by FPX or DuitNow

   FPX online banking is the most common; MX Global, SINEGY and HATA support DuitNow; Luno takes Touch ’n Go eWallet. Pay from an account in your own name.

4. Buy with a limit order

   Instant buy is fine for learning the flow, but for regular investing switch to limit orders — far cheaper.

5. Withdraw to your own wallet (optional)

   Move long-term holdings to a self-custody wallet, sending a small test amount first.

Card purchases are uncommon on Malaysia's registered exchanges, which mostly use bank rails. If you do want to pay by card, international platforms are an option — just know they are not SC-protected and price in foreign currencies, so your bank adds FX fees. Compare rails across the region in crypto payment methods, and see the cost breakdown in our credit-card guide.

06Binance, Bybit and SC enforcement

The SC has a track record of acting against offshore exchanges that court Malaysians. In July 2021 it publicly reprimanded Binance for operating illegally and ordered it to shut its website and apps; Binance is on the SC Investor Alert List. Bybit has been on the same list since July 2021, and on 11 December 2024 the SC ordered it to disable its website and apps for Malaysian users and stop advertising within 14 business days. On 27 December the SC confirmed Bybit had complied.

OKX, HTX and other global platforms are not registered in Malaysia either, and some are on the alert list. Our rule: check the SC Investor Alert List before you use anything. Being able to sign up from Malaysia is not the same as being regulated, and the SC cannot help you if an offshore platform fails.

07Crypto tax in Malaysia

Malaysia has no capital gains tax on crypto for individuals. The capital gains tax introduced in 2024 applies to companies disposing of unlisted shares, not to retail crypto. So if you buy occasionally and hold long-term, your gains on sale are generally not taxed.

LHDN's guidelines on digital currency transactions are clear, though: if you trade frequently or in a business-like way, mine, or are paid in crypto, those gains are taxable income. As for the claim circulating online that crypto held for more than 12 months is exempt while short-term gains are taxed as income — we found no official basis for it, so treat it as false. Keep records of every trade and talk to a tax adviser if in doubt. For a regional comparison, see crypto tax in Asia.

08Wallets, P2P and the bank-freeze risk

HATA and Luno both have built-in custodial wallets, fine for small working balances. For long-term holdings consider a software wallet such as MetaMask or Trust Wallet, or a hardware wallet like Ledger — see best crypto wallets and hardware wallets. Note that e-wallets like Touch 'n Go hold ringgit only, not crypto.

P2P is Malaysia's big trap. Offshore desks such as Binance P2P are common for ringgit but are not SC-regulated, and the practical risk is worse than the legal one: if the ringgit you receive came from a scam victim, your bank account can be frozen under the police anti-mule regime. Our P2P guide explains how to reduce that risk. The safest route remains a direct FPX or DuitNow deposit to a registered exchange.

Comparing the neighbours? Read our guides to Singapore, Thailand and Indonesia.

FAQ

Sources

• Securities Commission Malaysia — list of registered digital asset exchanges · list updated 20 Jul 2026; checked 1 Oct 2026
• Securities Commission Malaysia — digital assets · checked Oct 2026
• SC Investor Alert List · checked Oct 2026
• HATA — fees · checked 1 Oct 2026
• CEX.IO — countries and territories not currently supported · checked 1 Oct 2026

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