The post Malaysia Halts Bybit Operations Over Regulatory Breach appeared first on Coinpedia Fintech News
Malaysia’s Securities Commission (SC) has ordered Bybit and its CEO, Ben Zhou, to suspend operations for running without proper registration. Bybit must shut down its platforms, halt advertising, and dissolve its Malaysian Telegram support group by December 25. The SC cited investor protection concerns, reminding users that unregistered platforms pose higher risks. Bybit has complied with the directives and aims to return after obtaining the necessary licenses. Previously listed on Malaysia’s Investor Alert List since 2021, Bybit also exited France in August due to stricter regulations under the EU’s Markets in Crypto-Assets (MiCA) framework.