Malaysian Regulator Says Huobi Lacks License to Operate in the Country

The Malaysian Securities Commission (SC) has announced that they are taking enforcement measures against Huobi, co-founded by Leon Li, for running a digital asset exchange without having registered for it.

This action is pursuant to section 7(1) of the Capital Markets and Services Act and is being done to ensure the interests of investors in the country are protected.

The SC Order requires Huobi to stop operating, include disabling their website and app.

Furthermore, the Commission has advised investors to be wary of platforms and schemes that offer seemingly high returns.