The Securities Commission of Malaysia (SC) has issued a consultation paper on July 1 proposing a comprehensive overhaul of the regulatory framework for digital asset exchanges (DAX). The new regulations will allow eligible digital assets to list without prior approval, while requiring exchanges to improve governance standards, enforce customer asset segregation and meet higher financial thresholds. The move is aimed at speeding up the token listing process, expanding product offerings and enhancing investor protection. Digital asset trading in Malaysia hit a record RM13.90 billion (around $2.90 billion) in 2024, double the previous year's figure. The public consultation period will run until August 11, 2025.