The Securities Commission of Malaysia has taken enforcement action against Huobi Global, ordering it to cease operations.

BlockBeats News, May 22nd, the Securities Commission of Malaysia (SC) announced that it has taken enforcement action against Huobi Global Limited and its CEO, Leon Li, for operating a digital asset exchange platform (DAX) in Malaysia without being registered. In addition, the SC has ordered Huobi Global Limited to cease its operations in the country, including disabling its website and mobile application on multiple platforms such as Apple Store, Google Play, and any other digital application platforms. Huobi Global Limited has also been instructed to stop disseminating, publishing, or sending any advertisements to Malaysian investors, and Leon Li, as CEO, has been specifically requested to ensure compliance with the above instructions.