The Finance Minister of Malaysia has used his powers under s5 Capital Markets and Services Act 2007 to enact the Capital Markets and Services (Prescription of Securities)(Digital Currency and Digital Token) Order 2019 to classify crypto-currencies, tokens and crypto-assets as securities, thereby subjecting them to the jurisdiction of the Malaysian Securities Commission.

The order covers any digital currency which is traded in a place or on a facility where offers to sell or buy it are made or accepted regularly, which someone expects a return in any form from the trading thereof and which is not issued by any government body or central bank.

It also covers any digital token which represents someone's right or interest in any arrangement made for the purpose of providing facilities for the person, if that person receives the digital token in exchange for a consideration; and if the consideration or contribution from the person, and the income or returns, are pooled; and if the income or returns of the arrangement are generated from dealings in any property or assets or business activities; and if the person expects a return in any form from the trading of the digital token or an appreciation in its value; and if the person does not have day-to-day control over the assets or business of the arrangement; and if the digital token is not issued or guaranteed by any central bank.

For the purpose of Malaysia's securities laws, a digital currency/token that is prescribed as a security by the order that is offered or traded on or through a recognised market is neither a share in (or debenture of) a body corporate (or an unincorporated body), or a unit in a unit trust scheme or prescribed investments scheme.