Bybit has been ordered by the Malaysian Securities Commission (SC) to cease operations in Malaysia. The regulatory body accuses Bybit of running an unregistered digital asset exchange (DAX). This action is part of a broader crackdown on unregistered exchanges in the region.
In the announcement made on December 11, the Malaysian authorities demand that Bybit immediately take down all its digital platforms, including its website. The move underscores the increasing scrutiny on crypto operations within the country as regulators aim to enforce compliance with local financial laws.
