Spain’s Regulator Warns Huobi and Bybit for Operating Without Proper Licensing

Cryptocurrency trading platforms continue to receive scrutiny from global regulators as Spain’s National Securities Market Commission (CNMV) has warned two of the largest digital asset exchanges – Huobi and Bybit.

• According to the statement from the authorities sent to 12 companies operating in Spain, including Huobi and Bybit, they have failed to register to provide financial and investment services to locals.

• “These institutions are not registered in the corresponding registry of this Commission, and, therefore, are not authorized to provide investment services or other activities subject to the CNMV’s supervision.”

• Thus, the CNMV list of warnings issued against companies from the cryptocurrency landscape continues to increase.
• Previously, other representatives that found a place there include Coinbase, KuCoin, LocalBitcoins, LocalEthereum, Changelly, ShapeShift, and more.
• Digital asset trading platforms keep receiving blows from global regulators. As reported recently, Binance has had its fair share of warnings as well. The largest cryptocurrency exchange has been under scrutiny from numerous watchdogs.
• As such, the company already had to halt some of its operations, including derivatives features in several countries.