Binance has begun formal discussions with the Securities Commission Malaysia and Bank Negara Malaysia about obtaining a license to offer legal crypto services and products in the country, Bloomberg reported. The exchange said the talks have continued for 10 months and cover the feasibility and structure of a licensed operating model. A license would enable Binance to formally re-enter Malaysia, where authorities fully blocked access to its website and mobile app in 2021 over unauthorized operations and placed it on a regulatory warning list. No license, application, timetable or final regulatory decision has been disclosed. The Securities Commission removed Binance from its investor alert list in 2024 and added it again earlier this month without explaining why. Earlier reporting also linked the discussions to a security breach involving as much as US$6.3 billion, a Malaysian lawmaker’s request for an investigation into ringgit-related peer-to-peer listings, and Binance’s stated commitment to serving Malaysians under local rules.