The government authority of Italy responsible for regulating the Italian securities market CONSOB today issued a report warning of unauthorized activity by Binance Group.
Italy is thus becoming the second country after Great Britain this year, which also warned against Binance, and only recently, specifically on June 26.
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. stated the Italian regulator today
Although it is still unclear what the impact will be in Italy in the coming period, the reactions in the United Kingdom have not been long in coming. A few days after the publication of the FCA report, the first banks responded to this, namely the British multinational universal bank Barclays, which informed its clients that it was suspending payments to Binance until further notice.
The first country to start fighting Binance was the United States, when regulators drew attention to Binance as early as last autumn. As a result, the crypto exchange eventually ceased to provide services to the US population.