Bybit, Blocked in Malaysia... CEO Also 'Warned'

The global cryptocurrency exchange Bybit has been sanctioned by the Malaysian government for operating an unregistered exchange.

According to the cryptocurrency-focused media WuBlockchain on the 30th, the Securities Commission Malaysia (SC) recently issued a warning to Bybit and its CEO, Ben Zhou. The measures include deactivating Bybit's website and mobile applications, as well as halting all advertisements targeting Malaysian investors.

Bybit was sanctioned for operating an exchange that was not registered with the SC. The SC stated, "This decision was made due to concerns about the platform's regulatory compliance and investor protection issues," adding that "Bybit and Ben Zhou have been on the investor alert list since July 2021."