- The Supreme Committee clarified in a subsequent tweet that its mandate is necessary.
- Huobi is expanding into other markets, including Australia and the United States.
Monday , Malaysian Securities Commission (SC) has published a statement about Huobi’s activities in the country. The Supreme Committee has put the cryptocurrency exchange on its investor alert list, according to the announcement. Huobi allegedly operated a cryptocurrency exchange in Malaysia without being registered with the Securities Commission (SC), according to Malaysian officials.
The Supreme Committee clarified in a subsequent tweet that its license is necessary for every business in the country that engages in or offers capital market activity. Firms that do not have such an authorization are known as “unauthorized” or “unregistered” companies. Investors are “strongly” urged not to invest in such businesses, according to local authorities.
All is not well for Huobi Global
The Higher Committee also clarified that users of such a service do so at their own risk and cannot resort to compensation for monetary damages in court. In response to the tweet, local investors suggested switching exchanges as a quick and easy solution.
Huobi is expanding into other markets, including Australia and the United States. At the beginning of August, Australian regulators gave the green light to the exchange. Hopi got finCEEN licensewhich brings it closer to customer service in the United States.
Although progress has been made in some areas, the exchange is facing difficulties in others, such as Thailand and New Zealand. The Huobi Thai branch was recently closed because it was unable to address critical systemic concerns after receiving several extensions from local authorities.
As of Tuesday, August 16, Huobi has already indicated that it will stop trading derivatives in New Zealand in order to comply with local law. The company just got its first New Zealand operating license a few months before that.
Recommended for you:
Huobi Global halts derivatives trading in New Zealand
#Malaysian #regulator #adds #Huobi #Global #investor #alert #list