Sunday, October 19, 2025
No Result
View All Result
Blockchain Broadcast
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • NFT
  • Blockchain
  • Metaverse
  • DeFi
  • Web3
  • Analysis
  • Regulations
  • Scam Alert
Crypto Marketcap
Blockchain Broadcast
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • NFT
  • Blockchain
  • Metaverse
  • DeFi
  • Web3
  • Analysis
  • Regulations
  • Scam Alert
No Result
View All Result
Blockchain Broadcast
No Result
View All Result

Bybit Shuts Down in Malaysia Amid Regulator’s Order

December 30, 2024
in Crypto Updates
Reading Time: 2 mins read
0 0
A A
0
Home Crypto Updates
Share on FacebookShare on Twitter


Bybit has ended its operations in Malaysia following an order from the Securities Fee Malaysia (SC). The SC flagged the cryptocurrency alternate large for working within the nation with out native registration and held Bybit’s CEO, Ben Zhou, chargeable for guaranteeing compliance.

Actions towards Unregistered Platforms

The order got here after the Malaysian regulator added Bybit to its “Investor Alert” checklist in 2021 for “working a digital asset alternate (DAX) with out registration.”

The checklist additionally consists of many different crypto exchanges and contracts for variations (CFDs) brokers regulated outdoors Malaysia however not within the nation. Just lately, it additionally added Atomic Pockets, a cryptocurrency pockets platform. Nevertheless, all these platforms share the checklist with different doubtlessly fraudulent platforms, together with clones of official platforms.

The Malaysian regulator’s newest order, which seems to have been communicated to Bybit on 11 December 2024, directed the alternate to disable its web site and cellular purposes inside 14 enterprise days within the nation. Additional, the Dubai-headquartered crypto alternate needed to stop all on-line and offline ads and terminate the Telegram assist group for Malaysians.

“This choice comes after issues in regards to the platform’s compliance with native regulatory necessities and defending buyers’ pursuits.”

Crypto Giants Face Regulatory Challenges

Other than the actions in Malaysia, the monetary providers watchdog in Cyprus additionally added Bybit’s title to its warning checklist final month for being an unregistered platform. Nevertheless, the Cypriot regulator has not but taken any additional motion.

Bybit is the second-largest centralised cryptocurrency alternate when it comes to buying and selling volumes with spot and by-product devices, in keeping with Coinmarketcap.com. Within the final 24 hours, the platform dealt with over $4.6 billion in spot and $19 billion in derivatives buying and selling quantity, trailing solely Binance.

The alternate can be strengthening its presence in strategic nations and has gained licences in Kazakhstan and Georgia lately. It additionally holds a provisional licence in Dubai and is now searching for authorisation in Austria.

“Buyers are reminded to speculate and deal solely with Acknowledged Market Operators which might be registered with the SC,” the regulatory discover famous. “Registered RMOs have undergone strict regulatory scrutiny and are required to stick to strict pointers in order that buyers are protected below Malaysia’s securities legal guidelines.”

“Those that spend money on unlicensed or unregistered entities or people aren’t protected below Malaysian securities legal guidelines and are thus uncovered to dangers resembling fraud and cash laundering.”

This text was written by Arnab Shome at www.financemagnates.com.



Source link

Tags: BybitMalaysiaOrderregulatorsshuts
Previous Post

‘You Should Be Salivating’ – Investor Chris Burniske Says Crypto Market Flashing ‘Sweet’ Setup Heading Into 2025

Next Post

Matrixdock Integrates XAUm Gold Token with Binance Wallet to Advance Financial Equality

Related Posts

Crowd Wisdom Proves Potent: Polymarket’s Predictions Hit 95% Accuracy
Crypto Updates

Crowd Wisdom Proves Potent: Polymarket’s Predictions Hit 95% Accuracy

October 18, 2025
Japanese Banks Plan Stablecoin Rollout By Year-End – Report
Crypto Updates

Japanese Banks Plan Stablecoin Rollout By Year-End – Report

October 18, 2025
Nexchain AI Prepares for Testnet 2.0 Launch as Token Presale Gains Momentum
Crypto Updates

Nexchain AI Prepares for Testnet 2.0 Launch as Token Presale Gains Momentum

October 18, 2025
CMB International Tokenizes .8 Billion Fund on BNB Chain
Crypto Updates

CMB International Tokenizes $3.8 Billion Fund on BNB Chain

October 18, 2025
Ripple Unveils  Billion Digital Asset Treasury to Accelerate XRP Expansion
Crypto Updates

Ripple Unveils $1 Billion Digital Asset Treasury to Accelerate XRP Expansion

October 17, 2025
London Police Arrest Five Suspects
Crypto Updates

London Police Arrest Five Suspects

October 18, 2025
Next Post
Matrixdock Integrates XAUm Gold Token with Binance Wallet to Advance Financial Equality

Matrixdock Integrates XAUm Gold Token with Binance Wallet to Advance Financial Equality

Top 10 Play-to-Earn Projects to Follow in 2025

Top 10 Play-to-Earn Projects to Follow in 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Facebook Twitter Instagram Youtube RSS
Blockchain Broadcast

Blockchain Broadcast delivers the latest cryptocurrency news, expert analysis, and in-depth articles. Stay updated on blockchain trends, market insights, and industry innovations with us.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3
No Result
View All Result

SITEMAP

  • About Us
  • Advertise With Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright © 2024 Blockchain Broadcast.
Blockchain Broadcast is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$106,966.00-0.08%
  • ethereumEthereum(ETH)$3,870.380.05%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$1,083.90-0.80%
  • rippleXRP(XRP)$2.350.71%
  • solanaSolana(SOL)$185.770.92%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • staked-etherLido Staked Ether(STETH)$3,866.980.22%
  • tronTRON(TRX)$0.3139441.05%
  • dogecoinDogecoin(DOGE)$0.1888350.93%
No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • NFT
  • Blockchain
  • Metaverse
  • DeFi
  • Web3
  • Analysis
  • Regulations
  • Scam Alert

Copyright © 2024 Blockchain Broadcast.
Blockchain Broadcast is not responsible for the content of external sites.