Malaysia Plans to Relax Crypto Listing Rules; Connecticut Blocks Reserve Token Launch
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The Securities Commission Malaysia (SC) has suggested modifications to make it easier for digital asset exchanges to get listed. The goal is to make the country’s regulated digital asset market more competitive. Exchanges will no longer need permission to list certain tokens if they have been traded for at least a year on a licensed virtual asset service provider (VASP) and have passed a public security audit.
This change is in line with the SC’s “same activities, same risks, same regulatory outcomes” strategy, which aims to encourage new ideas while also holding listed assets accountable. However, the SC is also making custody and governance rules stricter to safeguard investors better and ensure that digital asset exchange (DAX) operators are strong.
These steps were taken because of big losses from crypto scams, for example, the UVKXE scam stole RM 33 million ($7 million) from Malaysian investors. According to CertiK, digital asset theft worldwide reached $2.3 billion in 2025. Nefture Security says that losses might be as high as $8.3 billion over 519 incidents. The SC is asking for public input on these ideas until August 11, 2025, so that they can improve the rules.
Connecticut’s Ban on Crypto Owned by the State
Connecticut, on the other hand, has taken a strong stand against digital assets by passing House Bill 7082, which Governor Ned Lamont signed into law. The law, which passed with 36 votes in the Senate and 148 votes in the House, says that state agencies and political subdivisions can’t accept, require, or hold virtual currencies.
This action goes against the trend in the U.S., where states like New Hampshire have started to use digital asset reserves, which let them put up to 5% of their state revenues into cryptocurrencies. Connecticut’s choice shows that they are being careful and putting financial stability ahead of joining President Donald Trump’s plan to create digital asset reserves.
Connecticut has the 23rd largest economy in the U.S., with $9 billion in treasury pools. However, the state has chosen to avoid the risks associated with unstable digital assets. This is the first time a state has banned something like this, and it sets a precedent for other jurisdictions to look into crypto-friendly regulations.
Finding a Balance Between Protection and Innovation
Malaysia’s proposed rules aim to find a balance between encouraging new ideas and protecting investors. They are meant to deal with both the problems of market growth and preventing fraud.
Connecticut’s outright ban, on the other hand, shows a conservative approach and a lack of faith in the strategic significance of digital asset reserves.
These two different approaches show how different countries regulate cryptocurrencies. Malaysia has a more open market, whereas Connecticut puts less emphasis on risk. The rules in both areas will likely influence other regions as the digital asset market evolves.