Binance Barred From Italy As Crackdown Continues

The kicks keep coming for Binance, who today was told that it is no longer authorized to operate within the country of Italy. The crackdown follows a string of jurisdictions working to halt the crypto exchange from operating within their borders, including the Province of Ontario, Canada, and the United Kingdom.

First reported by Reuters this morning, Consob, the arm of the Italian government that is responsible for the Italian securities markets, has indicated within a notice that Binance has no authorization to “provide investment services and activities in Italy.” Binance, of course, has reportedly stated that the notice has no impact on their operations.

In addition to warning Binance and its users about the crackdown, the regulator took the opportunity to warn about crypto assets as a whole, stating, “Furthermore, savers are invited to adopt the utmost caution in making transactions on instruments related to crypto-assets, for this may imply the total loss of the sums of money invested and it is recommended to savers to always follow the general rule of considering the signing of contractual proposals only when they have an adequate understanding and only when they are assisted by clear and complete information also on the identity of the contractual counterparty who may propose himself as a service provider.

Notably, the Italian regulator differs from several of its global peers in that it has the power to demand internet providers to stop providing service to unauthorized investment services providers. The regulator reportedly stated this directly to the exchange in a letter sent to their lawyers.

It’s unclear at this point in time however whether such actions have been ordered by the regulator as of yet.


Information for this briefing was found via Reuters, Binance. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

US Authorities Arrests Founder Of Crypto Exchange That No One Has Heard Of

The US government arrested Anatoly Legkodymov, a Russian national and co-founder of Bitzlato, a Hong...

Thursday, January 19, 2023, 12:07:42 PM

Binance ‘Not Capable’ of Supervision, Concedes UK-Based Regulator

The UK’s financial regulator has admitted it is unable to adequately supervise Binance, following a...

Wednesday, August 25, 2021, 04:33:45 PM

SEC Drops Lawsuit Against Binance Crypto Exchange

Federal regulators abandoned their civil case against Binance on Thursday, ending a nearly two-year legal...

Friday, May 30, 2025, 02:13:00 PM

Binance.US Market Depth Drops Drastically in Wake of SEC Lawsuit and Market Maker Exit

Binance.US has seen its market depth decline by a substantial 78% across its top 25...

Monday, June 12, 2023, 12:38:00 PM

Binance Cuts Employee Benefits Due To Profit Decline, Contradicting CZ Again

In response to a decrease in profitability, Binance recently made significant adjustments to its employee...

Tuesday, July 18, 2023, 10:53:19 AM