Italian Regulator Warns Binance Crypto Exchange Not Authorized to Provide Investment Services in Italy

Italian Regulator Warns Binance Crypto Exchange Not Authorized to Provide Investment Services in Italy


Binance’s regulatory troubles grow with Italy being the latest country to issue a warning on the global cryptocurrency exchange. Other countries that have issued similar warnings include the U.K., Japan, Thailand, and the Cayman Islands.

Crypto Exchange Binance Unauthorized in Italy

Italy’s financial regulator, Commissione Nazionale per le Società e la Borsa (Consob), published a warning on cryptocurrency exchange Binance Thursday. The regulator wrote:

Trending: Biden Considers Experimental COVID-19 Vaccine Mandate for All Federal Workers – Calls Unvaccinated Individuals Stupid

Consob warns savers that the companies of the ‘Binance Group’ are not authorized to provide investment services and activities in Italy.

Consob clarified that activities through binance.com are also unauthorized, noting that the website’s “sections called ‘derivatives’ and ‘Stock Token,’ relating to instruments related to crypto-assets, were previously also written in Italian.”

The regulator proceeded to caution the public when investing in cryptocurrency or crypto-related investments, “for this may imply the total loss of the sums of money invested.”

The Italian financial watchdog concluded: “It is important that savers are informed that transactions in instruments

Continue reading

You Might Like

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend