SC has directed Bybit to disable Bybit’s website and mobile applications or any other digital application platform in Malaysia.
: The Securities Commission Malaysia has reprimanded Bybit Technology Ltd and its chief executive officer Ben Zhou for operating a digital asset exchange in Malaysia without registration.
“The SC has directed Bybit to immediately cease circulating, publishing or sending any advertisements, whether in social media posts or otherwise, to Malaysian investors and immediately terminate Bybit’s Telegram support group for Malaysians,” it said. “This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests.
Furthermore, the commission reminded investors to invest and deal only with RMOs registered with the SC, as the registered RMOs have undergone strict regulatory scrutiny and must adhere to strict guidelines to protect investors under Malaysia’s securities laws.
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