The Securities Commission (SC) has issued an order to Huobi Global, along with its CEO Leon Li, publicly reprimanding them and mandating the immediate cessation of trading activities in a move to uphold the law within the Malaysian market.
This decision is in accordance with section 7(1) of the Capital Markets and Services Act, 2007.
To ensure compliance, the SC has further instructed Huobi Global and its affiliates to halt all trading operations and refrain from promoting their services on social media platforms or any other channels within Malaysia.
The SC has advised all DAX investors in Malaysia to withdraw their investments and discontinue trading on the platform. This course of action has been taken with the utmost consideration for safety and the protection of investors.
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The regulatory authorities responsible for overseeing these matters have emphasized the importance of meeting local regulatory requirements and prioritizing the best interests of investors.
