The Malaysian securities regulator announced on May 22 that the crypto exchange Huobi Global Limited and its CEO Leon Li have been reprimanded for operating in the Asian country illegally. The regulator also revealed that the crypto exchange has been told to stop soliciting investments via emails and social media platforms.
Crypto Exchange Told to Disable Its Website
The Securities Commission Malaysia (SC) said on May 22 that it had “issued a public reprimand against Huobi Global Limited, and [CEO] Leon Li for operating illegally in Malaysia.” In addition to the public censure, the Malaysian securities regulator also ordered the crypto exchange platform to stop operating in the country.
According to the regulator, Huobi must “disable its website and mobile application on several platforms such as Apple Store or Google Play.” Besides ordering the crypto exchange to stop inviting investors to its platform, the statement released by the regulator said the crypto exchange should a
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