Securities Commission Malaysia has ordered Huobi Global to stop all activity after failing to register to operate in the country.
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Huobi Global has been ordered to close its operations in Malaysia following an enforcement action from the country’s securities regulator.
According to an official statement from Securities Commission Malaysia (SCM) on May 22, Huobi Global failed to register as a cryptocurrency exchange operator and must cease all activity. The company has been directed to disable its website and mobile applications on Apple Store and Google Play.
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The cryptocurrency exchange is also expected to cease advertising its products and services to Malaysian users via email and social media.
SCM noted that its decision was driven by concerns about Huobi’s “compliance with
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