Huobi Global was ordered by the Securities Commission Malaysia to cease operations in Malaysia, including disabling their website and mobile apps, as they were operating a digital assets exchange without registration.

According to a Monday announcement , the regulator has told the company that it must stop circulating, printing or sending advertisements to Malaysian Investors.

The Capital Markets and Services Act makes it an offence to operate a digital asset trading exchange without first registering with the SC as a Recognised Market operator.

The regulator instructed CEO Leon Li to make sure the directives were carried out. It also urged Malaysians who use Huobi Global’s platform to stop trading, withdraw funds, and close their account.

Huobi was contacted to get a comment.

Justin Sun says Huobi Founder Li Lin’s brother acquired HT Tokens for free and cashed them out

Sheldon Reback is the editor.