Italy’s financial regulator issued a stark warning about Binance
The Italian Companies and Exchange Commission (CONSOB) said Binance is not authorized to provide investment services in the country.
“Consob warns savers that the companies of the “Binance Group” are not authorized to provide investment services and activities in Italy, not even through the website www.binance.com whose sections called “derivatives” and “Stock Token“, relating to instruments related to crypto-assets, were previously also written in Italian.
Therefore, the attention of the public must be drawn to this circumstance and, more in general, savers are invited to make use of their utmost diligence in order to make their investment choices in full awareness, verifying in advance that the websites through which they make the investment can be attributed to authorized subjects.” Italy’s financial regulator said in a statement on its website.
The world’s largest crypto exchange is also facing a class-action lawsuit from a major Italian law firm that represents disgruntled futures traders.
As AZCoin News recently reported, Binance is subject to regulatory investigations and reviews in countries like Canada, Japan, the United States, Singapore, the U.K., the Cayman Islands, Poland, Thailand, and Malta.
This month, the exchange suspended transfers from the Single Euro Payments Area (SEPA).
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