Spanish Securities and Exchange Commission issues warnings to 12 companies, including cryptocurrency exchanges Huobi and Bybit. These warnings are for providing financial services without registering with authorities.
Warning, Not a Ban
The warnings do not imply that the exchanges will face a ban from the nation, but they are a warning, nevertheless. According to its website, Spain’s SMC has only administrative powers and appeals to the court system to penalise the businesses.
Spanish-language website CriptoNoticias reports that the notice intends to notify operators and consumers.
Others in the list
The list also includes crypto exchanges Dsdaq Market, Markets Cube, Expertise Trader, trading platforms Markets EU, Profit Assist, Financial Resident, Australian investment business Liberty Sky, crypto token issuer N2 Group, and The Market Limited.
Authorities throughout the world are putting pressure on crypto exchanges.
In July, Huobi’s income is likely to have taken a blow as a result.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.