Malaysia Regulator Orders Crypto Exchange Huobi Global Limited To Stop Operations
Cryptocurrency exchange Huobi Global Limited has to stop operations in Malaysia after its regulator found it was operating without being registered.
The Securities Commission Malaysia on Monday said the exchange has to disable its website and mobile apps on platforms including the Apple Store and Google Play, according to a press release.
The regulator said it viewed the “breach seriously,” adding that not registering is a violation of its Capital Markets and Services Act of 2007.“This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests,” the regulator said.
Huobi Global Limited’s CEO Leon Li specifically was ordered to make sure the exchange disables its site, stop circling advertisements among other directives.
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