Spain’s regulator has issued warnings to bitcoin exchanges Huobi and Bybit

August 24, 2021


Spain's regulator has issued warnings to bitcoin exchanges Huobi and Bybit

Spain's National Securities Market Commission (CNMV) has warned 12 companies against operating without registration. The list includes cryptocurrency exchanges Huobi and Bybit.

According to the notice, the listed entities are not included in the CNMV register. They cannot provide investment services or conduct activities that fall under the regulator's supervision.

The list also includes token issuer N2 Group, digital asset trading platforms Dsdaq Market, Markets Cube and Expertise Trader.

The main purpose of such warnings is to protect consumers. The agency does not have the power to restrict the firms, but it can enforce it through a court order. The statement does not specify whether the Commission will make any claims against the listed firms.

Bybit received a similar warning from the UK Financial Services Authority in February 2021 and the Financial Services Authority of Japan in late May.

Recall that in June it became known that the CNMV and the central bank of Spain, along with the ECB will receive the authority to regulate the market of digital assets in the country.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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