- 12 firms including Huobi and Bybit warned by Spain’s National Securities Market Commission.
- The warning notice reports that these firms provide services despite being unregistered.
These institutions are not registered in the corresponding registry of this Commission, and, therefore, are not authorized to provide investment services or other activities subject to the CNMV’s supervision.
Of note, CNMV has the right to give such a warning as it is under their judicial powers. CNMV can sanction a company or give an appeal to the justice system whenever they see fit.
The 12 firms on the list are Crypto exchanges like Bybit, Huobi, Dsdaq Market, Markets Cube, Expertise Trader. This also includes Trading platforms like Markets EU, Profit Assist, and Financial Resident. The investment company Liberty Sky is on the list as well. And other companies like the N2 Group and The Market Limited.
This warning doesn’t really ban the companies from operating at all in the country. It only alerts both the consumers and the operators. As consumers, it is also important to know if the company you are working with is legit or not.
In addition, because of the success of cryptocurrencies as of date, watchdogs like CNMV check these companies carefully. With the pressure from authorities, these firms face strict observation. Through this, companies adhere to the right way of operating as well.