Huobi and Bybit receive warning notices from Spanish regulators

Thu 26 Aug 2021 ▪ 17h46 ▪ 2 min read — by James Taylor

The National Securities Market Commission (CMNV), Spain’s chief securities regulator, has issued warning notices against some 12 digital currency companies, after finding they were operating without the required registration with the local authorities.

According to Coingeek, in the latest crackdown from the authority, the commission issued the warnings as an alert to consumers and operators, in a bid to encourage the operators to legitimise their status in the country as soon as possible.

In Spain, digital currency exchanges and other businesses related to digital assets must register with the authorities before starting to operate in the country. The CMNV has administrative powers to oversee this sector, but it can’t sanction companies without applying to the Spanish justice system first.

Therefore, these warnings don’t actually prevent the exchanges from trading in the country. The regulator only encourages timely compliance with the requirements.

The list of companies that received a warning notice includes digital currency exchanges Huobi, Bybit, Dsdaq Market, Markets Cube and Expertise Trader, trading platforms such as Markets EU, Profit Assist and Financial Resident, an Australian investment company Liberty Sky, crypto token issuer N2 Group, as well as The Market Limited.

Such actions from Spanish regulators fall in line with international regulators tightening their grip on digital currency operators.

Now these companies have to register with Spanish authorities to bring themselves into line with the compliance requirements in the country.

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James Taylor

Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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