Malaysia has requested CEX to cease its operations in the country as it is not registered.

On December 30th, the Securities Commission (SC) of Malaysia took enforcement action against the Cryptocurrency trading platform CEX and its CEO for operating a business of encryption assets trading without proper registration. The regulator announced on Friday that it has ordered CEX to cease its operations on its website, mobile applications, or any other digital platforms in Malaysia, and instructed the company to complete the rectification within 14 working days from December 11th. In addition, CEX was also required to halt all advertising activities targeting Malaysian investors and to close the Telegram support group for Malaysian users. 'This decision is based on concerns about whether the platform complies with local regulatory requirements and protects the interests of investors,' the regulator stated. 'Operating a digital asset exchange platform (DAX) without the approval of the Securities Commission as a Recognized Market Operator (RMO) is considered illegal under Section 7(1) of the Capital Market and Services Act 2007.'

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