Spanish Securities Watchdog Warns 12 Firms Including Huobi, Bybit for Non-Registration
Right now•1 min read•Regulation
Spain’s National Securities Market Commission issued a warning notice for 12 companies, including crypto exchanges Huobi and Bybit, for providing investment services without being registered with authorities.
The warnings do not necessarily mean that the exchanges will be banned from the country. Spain's SMC only has administrative powers and would have to appeal to the justice system to sanction the firms, according to its website. The warning is meant to alert operators and consumers, Spanish-language website CriptoNoticias reported. The other companies in the notice are: Crypto exchanges Dsdaq Market, Markets Cube, and Expertise Trader; trading platforms Markets EU, Profit Assist, and Financial Resident; Australian investment company Liberty Sky; crypto token issuer N2 Group; and The Market Limited. Crypto exchanges around the world are facing pressure from authorities. Huobi's revenue likely took a hit in July.