The Italian financial regulator said Binance is unauthorized to provide financial services in the country.
In a press release published on its official website, CONSOB made clear that Binance isn’t authorized to operate within Italy. The regulator also advised people to be cautious when it comes to digital assets’ transactions.
“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.”CONSOB
The Italian regulatory authorities aren’t the only ones to take measures against Binance. The largest virtual currency exchange platform by trading volumes was set to initiate its own marketplace digital assets in the United Kingdom. Not long ago though, it was one of the companies that withdrew its application and didn’t register with the FCA because it couldn’t meet anti-money laundering requirements.
The Financial Conduct Authority also published a consumer warning on its official website informing the British about the new ban. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK. This firm is part of a wider Group (Binance Group).” This is not the first time the exchange platform operates without permission. Japan’s Financial Services Agency also informed last week that Binance was operating in the country without the permission of the regulator.
“Binance does not currently hold exchange operations in Japan, nor do we actively solicit Japanese users. As you can understand, we do not comment, as a matter of policy, on specific matters related to any regulators.”Binance spokesman for Coindesk