Move over Binance, Huobi and Bybit are the latest crypto platforms to fall under the purview of regulators.
Regulators from across the globe seem to have their eyes on crypto exchanges. As the world advanced towards the crypto-verse, the demand for these digital assets witnessed impeccable growth. The presence of crypto exchanges was further highlighted. While the crypto market wasn’t entirely regulated, the surge in the interest in crypto has called for the involvement of governments.
The crypto sphere witnessed the whole Binance takedown over the last couple of weeks. Japan, UK, the Cayman Islands, and a few other regions showed the door to Binance. Now, Spanish regulators were eyeing two prominent crypto platforms as they were operating without a license.
Huobi, Bybit, and other crypto exchanges receive warnings
In a recent document, the National Securities Market Commission [CNMV] of Spain revealed that an array of crypto platforms were operating in the region without proper registration. The financial regulator issued a warning against 12 exchanges including Bybit, Huobi, DSDAQ, n2coin, and a few others.
The warning read,
“According to CNMV records, these institutions are not registered in the corresponding registry of this Commission and, therefore, are not authorised to provide investment services or other activities subject to the CNMV’s supervision.”
Binance was seen suffering the wrath of regulators and turns out Huobi, Bybit and all the other exchanges under the purview of the CNMV could be next in line.
Meanwhile, China had shut the doors of over 11 crypto and forex platforms. While Spain was just issuing a warning against exchanges, China went all out and closed several trading platforms. The country has been slowly trying to eliminate the presence of crypto in the region.
While trading platforms seemed to be the Chinese government’s latest interest, the country recently took down an array of Bitcoin mining firms.
