The post Malaysia Orders Huobi Global to Stop Operations, Citing Lack of Registration appeared first on Coinpedia Fintech News
The Securities Commission(SC) ordered Huobi Global to stop operating in Malaysia. The company doesn’t have registration for its digital assets exchange. Eventually, the country’s regulator told Leon Li (Huobi Global CEO) to disable websites, and mobile applications, and stop advertising to Malaysian investors. Operating an unregistered digital asset is an offense under the Capital Markets & Services Act. The regulator instructed CEO Leon Li to comply and advise Malaysian investors to cease trading on the platform, withdraw funds, and close accounts.