Malaysia’s Securities Commission (SC) reprimanded Bybit Technology Limited and CEO Ben Zhou for operating a digital asset exchange without registration. Bybit has been on the SC’s Investor Alert List since July 2021. The SC directed Bybit to disable its website and apps in Malaysia, cease advertising to Malaysian investors, and terminate its local Telegram support group within 14 business days from December 11, 2024. Zhou was tasked with ensuring compliance. Operating a digital asset exchange without registration breaches Malaysia’s Capital Markets and Services Act 2007. The SC emphasised that investors should only engage with registered operators to mitigate risks like fraud and money laundering. Bybit has since complied with the directives, the SC said, urging the public to report unauthorised investment schemes.