2025-12-23 15:23:18

Recently, the cryptocurrency market in Malaysia has undergone significant changes, with multiple policy adjustments reshaping the entire ecosystem.

**Newcomer in Stablecoins**

Bullish Aim, a company with ties to the Johor royal family, has launched the RMJDT ringgit stablecoin within a regulatory sandbox framework. This stablecoin is not just a simple asset tool; its core mission is to promote cross-border settlements in ringgit and attract foreign capital inflows. Operating in a compliant manner within the sandbox environment is, in fact, preparing for the future mainstream adoption of the ringgit stablecoin. This initiative marks royal-level participation and reflects official support for digital financial innovation.

**Exchange License System Clarified**

The authorities have officially locked in six licensed exchanges: Luno (a veteran in the market), SINEGY, Tokenize (a cross-regional platform), MX Global (which has received institutional investment), HATA (which has an advantage with its USD channel), and Torum (which has social finance attributes). This list is crucial—only the exchanges listed will be able to secure long-term survival space, while unlicensed platforms will face official blocking and cleaning.

**Tax regulations fully rolled out**

According to the new plan released by LHDN on December 5th, tax requirements are divided into two categories. Taxable situations include: profits generated from frequent trading, operating income activities, and income from mining (calculated according to income tax standards). However, the appreciation gains from individuals holding coins long-term and income from sporadic trading for shopping are temporarily not subject to tax. It is worth noting that all transaction records must be valued in ringgit, and it is recommended to use the First In First Out (FIFO) method to calculate the cost basis of transactions. Complete transaction data must be properly preserved for future reference.

**Market Signal Analysis**

The logic behind this series of actions is clear: the royal family is testing stablecoins, the licensing system is detoxifying, and the tax policy is being standardized—Malaysia is building a complete compliance framework. This is neither repression nor laissez-faire, but guiding the market towards standardized development through regulatory design. For market participants, the landscape has become clear: compliant operations have become a necessary choice.

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GasWaster69

· 2025-12-23 15:53

Royal entry RMJDT, Malaysia has to take this seriously now... but as long as Luno is still alive, I really don't understand why other exchanges need to use --- Once the tax issue is sorted out, long-term hodlers have made profits, and those who trade frequently, it's my fault --- This regulatory framework is actually quite clever; it neither kills the crypto world nor is it too lenient, feels a bit like learning from China's model... --- Are six exchanges set in stone? Those small platforms are really going to be doomed, Malaysia is doing a "Great Purge" in a crypto version --- The ringgit stablecoin is here, feels like cross-border payments are going to da moon, I wonder if it will impact the position of the Hong Kong dollar --- FIFO accounting method... is everyone ready with Excel? This will be another hassle for the record-keeping bros --- Using the term royal-level support feels a bit excessive, but if it can really promote the digitalization of the ringgit, it could be a breakthrough --- It seems like Malaysia wants to become a "compliance crypto Hub"; compared to those countries that just ban everything, it seems smarter.

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StealthMoon

· 2025-12-23 15:53

The royal family is taking action to regulate this, they are serious about it. Now, unlicensed exchanges will have a tough time, the cleanup drama has begun. In terms of stablecoins, to put it bluntly, the officials want to seize the narrative power, smart move. Luno and the other six have made it, while for the others, uh... good luck to you. Holding coins long-term without paying taxes? Forget it, I only believe half of that.

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RektHunter

· 2025-12-23 15:51

Wow, the royal family is getting involved? Malaysia is really going to play for real now. As long as Luno is still alive, it's fine; the other exchanges should have been cleaned up long ago. Holding coins long-term without paying taxes? I like this logic; finally, there are some understanding people in the government. Six licenses locked down, to put it simply, it's just an official winners' list. Frequent trading means paying taxes; is this advising us not to engage in short-term trading? Haha. RMJDT stablecoin is trying to use the ringgit internationally; it seems Malaysia wants to do something in cross-border payments. The FIFO pricing method is a hassle; I’ll have to keep a ledger. Stablecoins involving the royal family feel much more reliable than regular project parties. Exchanges without licenses in the future will be a dead end; brothers still on small platforms should hurry and move.

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