Italian Regulator Says Binance Is Unauthorized

Italy's financial regulator, CONSOB, said Binance is not authorized to provide investment services in the country.

,"Companies of the Binance Group are not authorized to provide investment services and activities in Italy" even though parts of the website were written in Italian, CONSOB said in a statement on its website.
The regulator said last month that the unsupervised spread of crypto was a cause for concern.
CONSOB reiterated the warning, advising savers to "adopt the utmost caution" when transacting in crypto assets.
The announcement follows a string of similar statements from financial regulators advising consumers that Binance is unregulated or unauthorized to be operating in their jurisdictions.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Sheldon Reback

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

10 Years of Decentralizing the Future