Malaysia has banned one of the country’s most popular bitcoin exchanges

Spark Global Limited reports:

Spark Global Limited reports:

Malaysia’s securities commission said on Friday that it had taken enforcement action against cryptocurrency trading platform Binance to prevent it from operating in the country.

 

The commission said it had publicly condemned Binance and its chief executive, Zhao Changpeng, as well as three other entities registered in the UK, Lithuania and Singapore. The commission ordered all four Binance entities to disable binance’s Malaysian website and mobile app, halt related media and marketing activities, and restrict Malaysian investors’ access to Binance’s Telegram group.

Those who currently have binance accounts should immediately stop trading through the platform and immediately withdraw all their investments, the commission said. Binance said on Friday that it would shut down the futures and derivatives products it offers across Europe as the platform comes under growing regulatory pressure from regulators around the world.