Malaysia crypto trading tops $4B as sharia-approved asset list expands

Malaysia has emerged as one of the most crypto-open Islamic markets, supported by clear regulations and sharia standards, Wu Blockchain said. The Shariah Advisory Council under the Securities Commission Malaysia approved major cryptocurrencies including BTC, ETH, XRP and XLM as sharia-compliant assets from 2020 through the first half of 2026. As of mid-2026, 10 digital asset businesses had received regulatory approval. In 2025, trading volume on regulated exchanges in Malaysia rose 23% from a year earlier to more than $4 billion, equivalent to about 2.5% of local stock market turnover. Banking-sector support remains limited to transaction-related services for licensed operators.