The Spanish National Commission for the Securities Market (CNMV) has warned 12 companies against operating without registration, including cryptocurrency exchanges Huobi and Bybit.
According to the notice, the listed organizations are not included in the CNMV registry, as a result, they are not allowed to provide investment services or carry out activities subject to the supervision of the regulator.
The list also includes token issuer N2 Group, digital asset-backed trading platforms Dsdaq Market, Markets Cube and Expertise Trader.
The aim of the warnings is to protect users. The watchdog cannot restrict the work of the companies, however, it can actually do it asking by a court order.
Bybit received a similar warning from the UK Financial Conduct Authority in February as well as one from the Japan Financial Services Agency at the end of May.