Huobi Global is facing another hurdle in its operations, this time in Malaysia, over a suspected violation of the Capital Markets and Services Act, forcing the Securities Commission to halt its operations.
Digital currency exchange Huobi Global faces new regulatory hurdle as it attempts to iron out lapses in its operation in Malaysia after being put under the Investor Alert list over its alleged lack of permit.
Firms operating digital currency ATMs are technically operating digital asset exchanges, which need to be authorized by the regulator.
Malaysia’s Securities Commission has given permission to 3 crypto exchanges to operate, and outlawed all others.
Malaysia is seeking public feedback with regards to regulating initial coin offerings (ICOs) and property crowdfunding.
The Malaysian securities regulator has become the latest market regulator to move towards a new legal framework for cryptocurrencies.
