Spanish Regulator Issues Warning to Crypto Exchanges Huobi and Bybit


Spanish regulator has issued a warning against ByBit and Huobi saying they are not authorized to provide investment services or engage in other activities that require monitoring CNMV.

August 17, 2021, | AtoZ Markets – The Spanish National Commission for Securities Markets (CNMV) issued a warning on August 16 against several companies providing cryptocurrency and investment-related services.

According to the records of the CNMV, these entities are not registered in the appropriate register and, consequently, are not authorized to provide investment services or engage in other activities that require monitoring CNMV, said in a statement.

In total, the list included 12 companies, including the Huobi and Bybit cryptocurrency exchanges. In addition, it included the issuer of tokens N2 Group, as well as trading platforms with support for digital assets Dsdaq Market, Markets Cube, and Expertise Trader.

They are not prohibited from directly serving the residents of Spain – CNMV does not have such powers but can seek restrictions in court. The regulator’s notification, in this case, should be a warning to operators and consumers.

In February 2021, Bybit received a similar warning from the UK Financial Conduct Authority (FCA), and at the end of May from the Japan Financial Services Agency (FSA).

We will remind, in June it became known that CNMV and the central bank of Spain, along with the ECB, will receive powers to regulate the digital asset market in the country.

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