Malaysia’s Securities Commission (SC) released a statement on Monday about Huobi’s operations in the country, which according to the statement said exchange was on SC’s Investor Alert List.
Malaysia’s financial regulator said Huobi operates a digital asset exchange in the country. without being officially registered with SC
The SC said any actions undertaken or proposed within the country must be approved. Those who are not approved will be considered as an unauthorized or unregistered entity. Local officials said investors would be alerted that should not invest in doing so.
SC further stressed that anyone who uses such services is at risk and will not be able to legally correct their financial losses.
In an official statement, Huobi Group stated that compliance is a cornerstone of its business model in all countries of operation:
“We are currently in discussions with Malaysian regulators. about our presence in the local Malaysian market.”
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