Malaysia Orders Huobi Global to Cease Operations

Breaking News
Written By Keegan King

KUALA LUMPUR, MY – According to a statement Monday, the Securities Commission Malaysia (SC) has ordered digital asset exchange Huobi Global to cease operations after being found to operate without necessary registration. The directive encompasses disabling the company’s website and mobile applications.

In the announcement, the regulator instructed Huobi Global to cease circulating, publishing, or disseminating advertisements targeting Malaysian investors. The SC Malaysian investors who have been using Huobi Global Limited to immediately cease trading through its platform, withdraw all their investments, and close their accounts.” 

The regulator further addressed Huobi Global’s CEO, Leon Li, emphasizing the need for immediate compliance with the orders issued. This measure aligns with the SC’s commitment to safeguarding the integrity of Malaysia’s capital markets and maintaining a fair and transparent environment.

Keegan King

Keegan is an avid user and advocate for blockchain technology and its implementation in everyday life. He writes a variety of content related to cryptocurrencies while also creating marketing materials for law firms in the greater Los Angeles area. He was a part of the curriculum writing team for the bitcoin coursework at Emile Learning. Before being a writer, Keegan King was a business English Teacher in Busan, South Korea. His students included local businessmen, engineers, and doctors who all enjoyed discussions about bitcoin and blockchains. Keegan King’s favorite altcoin is Polygon.

https://www.linkedin.com/in/keeganking/
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