The SC, Malaysia's securities and digital assets regulator, has taken action against Huobi Global and its CEO Leon Li for operating an unregistered DAX in Malaysia

Huobi Global and Leon Li have been publicly reprimanded by the SC for operating illegally in Malaysia

Huobi Global has been ordered to stop its operations in the country, disable its website and mobile app on various platforms, and stop advertising to Malaysian investors

The SC has urged Malaysian investors who have been using Huobi Global to stop trading, withdraw their funds, and close their accounts