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Italian Regulator Says Binance Is Unauthorized
The regulator said last month the unsupervised spread of crypto was a cause for concern.
Italy's financial regulator, CONSOB, said Binance is not authorized to provide investment services in the country.
STORY CONTINUES BELOW
- ,"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.
Read more: Binance Suspends Sterling Withdrawals Again: Report
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
