Malaysia’s national electric utility provider Tenaga Nasional Bhd (TNB) has revealed staggering losses exceeding $1.1 billion over the past four years due to systematic electricity theft linked to illegal cryptocurrency mining operations. Parliamentary filings this week exposed that nearly 14,000 premises have been found tapping power illegally since 2020, with operators bypassing or tampering with meters to run Bitcoin mining equipment without detection, creating a severe financial and operational crisis for the country’s energy infrastructure.
about $1B Crypto Mining Power Theft Hits Malaysia's Grid
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Malaysia’s state utility provider Tenaga Nasional Berhad has reported staggering losses of $1.1 billion from illegal cryptocurrency mining operations, revealing a systemic crisis that has escalated 300% since authorities first detected the problem in 2018. The scale of electricity theft across 13,827 premises has prompted government officials to consider urgent regulatory reforms and enhanced monitoring systems to combat what has become a billion-dollar drain on the national energy infrastructure.
about Malaysia's $1.1B Crypto Mining Power Theft CrisisVCIG Buys $100M in OOB Tokens, Tether Becomes Top Shareholder
In a landmark move bridging traditional finance with cryptocurrency, Malaysia-based VCI Global (Nasdaq: VCIG) has announced a comprehensive $100 million acquisition of OOB tokens and will assume management of the digital treasury for OOBIT, a Singapore-based crypto payments platform. This strategic partnership, backed by industry titans including Tether and Solana’s co-founder, positions the stablecoin giant as the largest shareholder in the Nasdaq-listed company, signaling a significant vote of confidence in the convergence of public markets and digital assets.
about VCIG Buys $100M in OOB Tokens, Tether Becomes Top ShareholderSonami Launches First Solana Layer 2 Token in Presale
Sonami ($SNMI) has announced the continuation of its presale while launching the first-ever Solana Layer 2 token, marking a significant advancement in addressing network congestion and reliability issues that have challenged Solana during high transaction periods. With over $2 million already raised and a clear roadmap for ecosystem expansion, the Malaysia-based project represents a pioneering solution to enhance Solana’s scalability and performance for demanding applications like gaming and DeFi.
about Sonami Launches First Solana Layer 2 Token in PresaleMalaysia’s Central Bank Launches 3-Year Asset Tokenization Plan
Bank Negara Malaysia has unveiled a comprehensive three-year roadmap to explore the tokenization of real-world assets, positioning the country at the forefront of financial innovation in Southeast Asia. The initiative establishes a Digital Asset Innovation Hub and industry working group to coordinate research and pilot projects across key financial sectors, with a phased approach beginning with proofs of concept in 2026 and expanding to broader trials in 2027. This strategic move represents Malaysia’s most significant step yet toward integrating blockchain technology into its mainstream financial ecosystem.
about Malaysia's Central Bank Launches 3-Year Asset Tokenization PlanBNM Unveils 3-Year Asset Tokenization Roadmap for Malaysia
Bank Negara Malaysia has launched an ambitious three-year roadmap to advance asset tokenization across the country’s financial sector, positioning Malaysia at the forefront of digital asset innovation in Southeast Asia. The initiative focuses on practical applications including SME financing, Islamic finance products, green finance, and cross-border payments, representing a significant step toward modernizing Malaysia’s financial infrastructure through blockchain technology.
about BNM Unveils 3-Year Asset Tokenization Roadmap for MalaysiaBlockchain Implementation Drives ASEAN Digital Growth
Blockchain technology is transitioning from experimental phase to practical implementation across ASEAN nations, driving significant advancements in digital infrastructure, transparency, and financial inclusion. Industry leaders from HATIASSETS, My Blockchain Infrastructure, and BayaniChain discussed this transformative shift at the Bloomberg Business Summit in Kuala Lumpur, highlighting how blockchain is becoming a foundational element for economic growth throughout Southeast Asia.
about Blockchain Implementation Drives ASEAN Digital GrowthESG as Strategic Advantage at ASEAN Summit 2025
At the 2025 Bloomberg Business Summit ASEAN in Kuala Lumpur, corporate leaders Shinta Widjaja Kamdani of Sintesa Group and Sunny Verghese of Olam presented a compelling case for transforming Environmental, Social, and Governance (ESG) frameworks from regulatory compliance obligations into powerful strategic business advantages. Moderated by Bloomberg’s Avril Hong, the discussion centered on how Southeast Asian companies can leverage sustainability initiatives to drive long-term growth and strengthen their competitive positioning in global markets.
about ESG as Strategic Advantage at ASEAN Summit 2025Fasset Launches First Shariah-Compliant Stablecoin Bank
In a groundbreaking development for Islamic finance and digital assets, Fasset has secured provisional regulatory approval from Malaysia’s Labuan Financial Services Authority to launch what it claims is the world’s first stablecoin-powered Islamic digital bank. This landmark authorization enables the financial technology company to operate within a regulated sandbox focused on Shariah-compliant banking services, targeting underserved markets across Asia and Africa. The move represents a significant fusion of traditional Islamic banking principles with cutting-edge digital asset technology, potentially expanding financial access to millions while maintaining strict religious compliance.
about Fasset Launches First Shariah-Compliant Stablecoin BankSwiss Foreign Minister Strengthens ASEAN Economic Ties
From July 10-11, Swiss Federal Councillor Ignazio Cassis participated in the ASEAN Foreign Ministers’ Meeting in Malaysia, reinforcing Switzerland’s commitment to deepening economic and diplomatic ties with Southeast Asia. Cassis held bilateral talks with ministers from Malaysia, Vietnam, and Singapore, focusing on economic collaboration and shared global challenges. Notably, he also met Canada’s new Foreign Minister Anita Anand on the sidelines, marking a potential expansion of multilateral engagement. This visit underscores ASEAN’s growing strategic importance to Switzerland’s foreign economic policy.
about Swiss Foreign Minister Strengthens ASEAN Economic TiesIHH Healthcare Eyes Indonesia, Vietnam for Expansion
IHH Healthcare Bhd., a prominent Malaysian hospital operator, is considering expansion into Indonesia and Vietnam to mitigate the impact of increasing healthcare costs in the region. By entering these emerging markets, the company seeks to build scale and sustain growth. This strategic move aligns with IHH’s broader goal of strengthening its presence in Southeast Asia’s rapidly evolving healthcare sector.
about IHH Healthcare Eyes Indonesia, Vietnam for ExpansionIOTA Launches Liquid Link & AI Video Bounty for DeFi Growth
The IOTA Foundation has launched two major initiatives to enhance decentralized finance (DeFi) and community engagement. Liquid Link, now live on the IOTA mainnet, introduces liquid staking, allowing users to stake IOTA tokens and receive stIOTA, which remains usable across DeFi platforms while earning rewards. The program also features a points-based system for DeFi interactions, with perks like yield boosts and airdrops. Meanwhile, the AI Video Bounty encourages content creators to produce educational or creative videos using generative AI, supported by training, credits, and a $1,500 prize pool. These efforts align with IOTA’s broader strategy to foster grassroots engagement, including hackathons and collaborations like the Learn and Earn campaign with CoinGecko. Despite a recent price dip, IOTA continues to innovate with features like the Gas Station, easing transaction costs for users.
about IOTA Launches Liquid Link & AI Video Bounty for DeFi Growth