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Malaysian authorities warned investors about unregulated Huobi activities

Aug 24

The Securities Commission of Malaysia (SC) put bitcoin exchange Huobi on the Investor Alert List. The regulator noted that it has no control over the company's activities. 

Huobi Malaysia

"In Malaysia, any parties operating in the capital market require SC approval, even if they are allowed to operate in other countries. Investors are strongly advised not to invest in any unlicensed or unregistered entities."

According to the regulator, interaction with the platform puts users at risk. If they lose money, they will not be able to get the necessary legal support. Recall that Hbit Technologies, a subsidiary of bitcoin exchange Huobi, was licensed by FINTRAC to provide financial services in Canada.

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