The Spanish regulatory body warns against the cryptocurrency exchanges “Huobi” and “Bybit” for these reasons!
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Answer The Spanish regulatory body warns against the cryptocurrency exchanges “Huobi” and “Bybit” for these reasons!
Cryptocurrency exchanges continue to receive scrutiny from global regulators, with the Spanish National Commission for the Securities Market (CNMV) warning two of the largest cryptocurrency exchanges Huobi and Bybit.
Why did the Spanish regulator warn of “Huobi” and “Bybit”?
According to show Issued by the authority to 12 companies operating in Spain, including Huobi and Bybit, these platforms failed to register to provide financial and investment services to the local population.
As quoting from the statement:
These institutions are not registered in the corresponding registry of this Commission and are therefore not authorized to provide investment services or other activities subject to the supervision of the CNMV.
Read:Terraform Labs co-founder’s home raided by South Korean authorities
Thus, the list of warnings issued by the Spanish National Stock Exchange CNMV against crypto companies continues to grow.
Previously, the authority warned against several trading platforms such as:
Coinbase, KuCoin, LocalBitcoins, LocalEthereum, Changelly, ShapeShift…
Cryptocurrency exchanges continue to take a beating from global regulators.
As we recently noted in Bitcoin Arabs, Binance has had its fair share of warnings, too.
The largest cryptocurrency trading platform has come under scrutiny by several regulators.
As such, Binance has already had to halt some of its operations, including the derivatives trading feature in several countries.
Read:Swift: That’s why Ripple can’t compete with us in the field of international money transfers
Read also:
The Central Bank of Korea tests its digital currency CBDC on “Samsung Galaxy” phones
Retail giant Walmart is looking to hire a cryptocurrency product development leader
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