On April 16th, the Malaysia Securities Commission (SC) issued a statement citing Huobi Global for failing to meet regulatory requirements. The SC stated that Huobi Global had failed to register its digital asset exchange with the SC, as required by Malaysian law. This failure to comply with the SC’s regulations has resulted in Huobi Global being suspended from operating in Malaysia.

Huobi Global is a Singapore-based cryptocurrency exchange that has been operating since 2013. It is one of the largest cryptocurrency exchanges in the world, with a reported daily trading volume of over $1 billion. Huobi Global offers a wide range of digital assets, including Bitcoin, Ethereum, and other altcoins.

The SC’s statement noted that Huobi Global had failed to register its digital asset exchange with the SC, as required by Malaysian law. As a result, the SC has suspended Huobi Global from operating in Malaysia. The SC also noted that it had taken action against other digital asset exchanges that had failed to comply with its regulations.

The SC’s statement highlighted the importance of digital asset exchanges adhering to regulatory requirements. It noted that such compliance was necessary to protect investors and ensure the integrity of the Malaysian financial system. The SC also noted that it would continue to take action against any digital asset exchanges that failed to comply with its regulations.

The suspension of Huobi Global from operating in Malaysia serves as a reminder of the importance of digital asset exchanges adhering to regulatory requirements. It is essential for digital asset exchanges to comply with the laws and regulations of the countries in which they operate in order to protect investors and ensure the integrity of the financial system.