Malaysia's Securities Commission (SC) has mandated that cryptocurrency exchange Bybit cease all operations within the country due to its failure to register with the regulatory body. This development underscores the increasing scrutiny and regulatory pressures facing cryptocurrency exchanges globally. The SC's decisive action reflects a broader trend of tightening regulations as governments aim to exert more control over the burgeoning digital asset market. Such regulatory interventions may pose significant challenges to the growth and adoption of cryptocurrencies, potentially stifling innovation and market expansion.