Bybit, a leading cryptocurrency exchange, has officially ceased its operations in Malaysia following directives from the Securities Commission Malaysia (SC) . This development highlights the ongoing regulatory challenges faced by global cryptocurrency platforms in adhering to local compliance standards. Regulatory Actions Against Bybit The SC flagged Bybit and its CEO, Ben Zhou, for operating a Digital Asset Exchange (DAX) in Malaysia without proper registration as a Recognized Market Operator (RMO) under the Capital Markets and Services Act 2007. Key Actions Directed by the SC: Disable Access: Bybit was ordered to shut down its website, mobile applications, and any other digital platforms within Malaysia by December 26, 2024 . Cease Advertising: The exchange had to halt all advertisements, both online and offline, targeting Malaysian investors. Terminate Support Groups: Bybit was instructed to close its Malaysian Telegram support group immediately. The SC emphasized that un...

   The Cyprus Securities and Exchange Commission (CySEC) has unveiled a newly redesigned website aimed at improving navigation, accessibility, and functionality for regulated firms, investors, and the general public. This marks the first phase of an ambitious effort by CySEC to modernize its digital presence and provide a more streamlined experience for its stakeholders. Key Features of the New Website Upgraded Search Tool The website includes a powerful new search tool that allows users to quickly access detailed information about all current and former regulated firms. This feature is designed to enhance efficiency and support regulatory compliance by making information more accessible to users. Centralized Hub A comprehensive central hub has been integrated into the platform, serving as a one-stop resource for regulated entities and stakeholders. The hub provides access to important registries and portals, enabling firms to submit relevant information directly to CySEC. Spe...