Spain’s National Securities Market Commission (CNMV) has warned 12 entities that operating without registration is not permissible. The list includes cryptocurrency exchanges Huobi and Bybit.
According to the notice, the listed organisations are not registered with the CNMV. They cannot provide investment services or engage in activities subject to the regulator’s supervision.
The list also includes the token issuer N2 Group, and digital asset trading platforms with support for Dsdaq Market, Markets Cube and Expertise Trader.
The primary aim of such warnings is consumer protection. The agency has no power to restrict firms’ operations, but it can do so by court order. The statement does not specify whether the Commission will bring any claims against those listed.
In February 2021, Bybit received a similar warning from the UK’s Financial Conduct Authority, and in late May — from the Japanese Financial Services Agency.
In June it was announced that CNMV and the Bank of Spain, alongside the ECB will gain powers to regulate the digital assets market in the country.
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