Malaysian regulators on Monday issued orders to crypto exchange Huobi to halt all of it’s operations in the country. As per the announcement made by the Malaysian Securities Commission, Huobi seems to have fallen out of favor because it was operating a digital asset exchange without proper registration. Operating a cryptocurrency exchange without a Recognised Market Operator (RMO) licence is a violation of the Capital Markets and Services Act of 2007. The exchange and its creator, Leon Li, have also received a public rebuke. As CEO, Li has been tasked with overseeing the process of closing down local operations, suspending connections with Malaysian investors, deactivating the website, and pulling the app from app stores.