The Malaysian Securities Commission (SC) has placed the Huobi bitcoin exchange on its Investor Alert List. The regulator noted that the company does not control its activities.

Huobi Global [https://t.co/la9Y3ntGuq]
Added to SC’s Investor Alert List to operate a digital asset exchange (DAX) in Malaysia without being registered with SC. pic.twitter.com/z3IGgnCa0t

— SC Malaysia (@SecComMY) 22 August 2022

“Any party operating in the capital market in Malaysia requires the approval of the CB even if they are allowed to operate in other countries. Investors are strongly advised not to invest in any unlicensed or unregistered entities.

According to the regulator, interacting with the platform puts users at risk. In case of loss of funds, they will not be able to receive the necessary legal support.

Previously, Huobi has obtained a license to provide financial services in Canada, along with permission to operate in New Zealand and provisional approval from the Dubai regulator.

Since November 2021, one of the exchange’s subsidiaries has licensed the spot trading of cryptocurrencies in Gibraltar.

Recall that in July 2020 SC added Binance to the list of entities whose activities are not in compliance with the law.

The commission later declared sanctions action against the company “for illegally administering the digital asset exchange”.

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