Excuse me, I've been hearing some rumors lately about Huobi, one of the largest cryptocurrency exchanges. Could you please clarify whether there's any truth to the suggestion that Huobi might be shutting down? As a user of their platform, I'm naturally concerned about the stability and longevity of my investments. Are there any official statements or updates that I should be aware of? And if not, what measures is Huobi taking to ensure the continued security and accessibility of their services? I'd greatly appreciate your insights on this matter.
6 answers
Dario
Thu Sep 05 2024
The primary reason behind this directive was Huobi Global's failure to register as a digital asset exchange with the SC. Operating without proper registration is a violation of Malaysian securities laws and regulations.
Tommaso
Thu Sep 05 2024
As part of the enforcement, the SC mandated Huobi Global to disable its website and mobile applications, effectively cutting off access to its services for Malaysian users.
FireflySoul
Thu Sep 05 2024
This move highlights the SC's commitment to ensuring that all digital asset exchanges operating in Malaysia adhere to strict regulatory standards and guidelines.
Caterina
Thu Sep 05 2024
The Securities Commission Malaysia (SC) recently took a decisive action against Huobi Global, a prominent player in the cryptocurrency market. The commission issued an order for the exchange to cease all operations within the country's borders.
HanRiverWave
Thu Sep 05 2024
It also serves as a warning to other cryptocurrency exchanges that they must comply with local laws and regulations if they wish to continue offering their services in Malaysia.