Spain’s CNMV Blacklists Bybit, Huobi and Other Ten Unauthorized Entities

The Spanish securities markets regulator, often abbreviated as CNMV, has issued warnings against a number of unlicensed brokers and crypto firms targeting traders in the country.

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The backlisted entities today are Bybit, Huobi, Dsdaq Market, Markets Cube, Expertise Trader, N2 Group, Markets EU, Profit Assist and Financial Resident, among others. These brands offer related trading services, but don’t hold the appropriate licenses or authorization to do so in Spain.

“According to CNMV records, these institutions are not registered in the corresponding registry of this Commission and, therefore, are not authorised to provide investment services or other activities subject to the CNMV’s supervision,”CNMV explained.

Both Huobi and Bybit are big names in the crypto spot and derivatives trading industry. Similarly, the top crypto exchange by trading volume, Binance, is facing harsh regulatory scrutiny globally as many regulators have either issued warnings or taken enforcement actions against the platform.

Binance is taking active steps to be more compliant with local regulations everywhere. Last week, the exchange announced that it has terminated almost all the local services in Malaysia and South Korea​.