Huobi and Bybit have recently added their names to the list of dozen companies that have already received <a href="https://www.cnmv.es/portal/verDoc.axd?t={e9addefb-343a-4963-892a-221f20efe7fe}" target="_blank" rel="nofollow noopener">warnings</a> from CNMV. As reported, the two exchanges have failed to register to provide financial and investment services to the locals.
<h2>Spanish Authority CNMV Warns Bybit and Huobi</h2>
In accordance with the statement released by the Spanish authority, National Securities Market Commission, CNMV (Comision Nacional del Mercato de Valores), the warning has been sent to 12 companies that are operating in Spain, including Huobi and Bybit. It added:
<blockquote>“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.”</blockquote>
With the recent inclusion of Bybit and Huobi, the list is continuing to increase with names like LocalEthereum, Coinbase, KuCoin, ShapeShift, and LocalBitcoins, and many more already there.

In addition to this, it should be noted that <a href="https://www.cryptoknowmics.com/news/italy-securities-regulator-consob-issues-warning-against-binance-exchange/">Binance Exchange</a>, the leading cryptocurrency exchange, had also received such warnings and had been under <a href="https://www.cryptoknowmics.com/news/hsbc-prevents-uk-customers-from-making-binance-payments/">scrutiny</a> from a number of regulators.

As a result of this, Binance had to stop offering some of its services such as derivatives features in some countries. 
<h2>Questions on These Platforms Regarding Their Legalities</h2>
Although, it should be noted that for the time being these warnings do not make these exchanges non-reliable or illegal. 

This warning is precisely more for the investors, and it makes them aware that these platforms do not have Spanish licenses and are not subject to national rules to protect their customers.

As of now, all the exchanges mentioned in the list are operational as CNMV does not have the power to take them offline as this would require permission from a judge.

Provided the fact that a majority of bodies in the crypto space are <a href="https://www.cryptoknowmics.com/news/crypto-mom-hester-pierce-of-sec-believes-true-decentralization-will-save-defi-projects/">decentralized</a>, the path of cryptocurrency regulation is not going to be easy.

Huobi and Bybit Warned by Spain’s CNMV Over Operating Without Proper Licensing

Huobi and Bybit have recently added their names to the list of dozen companies that have already received warnings from CNMV.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Huobi and Bybit Warned by Spain’s CNMV Over Operating Without Proper Licensing

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