Cryptocurrencies, leveraging blockchain technology, promise decentralization, reduced transaction costs, and enhanced privacy, yet their adoption remains limited in Malaysia. This study expands the Unified Theory of Acceptance and Use of Technology (UTAUT) model by integrating FinTech awareness, regulatory support, perceived risk, and the moderating role of risk aversion in exploring cryptocurrency adoption. Through a survey involving 593 valid respondents in Malaysia, structural equation modeling (SEM) revealed that social influence, facilitating conditions, FinTech awareness, and regulatory support significantly influence cryptocurrency adoption, while perceived risk negatively affects behavioral intention. Risk aversion moderates the effects of performance and effort expectancies on adoption intention: High-risk-aversion individuals exhibit a positive correlation between performance expectancy and behavioral intention but a negative correlation between effort expectancy and behavioral intention, whereas low-risk-averse individuals demonstrate the opposite pattern, with a negative correlation between performance expectancy and behavioral intention, and a positive correlation between effort expectancy and behavioral intention. The model explains 46% of the variance in the adoption intention of cryptocurrency. The findings offer insights into fostering cryptocurrency adoption while accounting for diverse technological aspects tailored to individuals with different risk aversion traits.