CONSOB Further Adds 5 Abusive Websites Offering Financial Services to Its Blacklist

The Italian financial watchdog CONSOB has ordered the black-out of 5 new websites that offer financial services/financial products illegally, bringing the total number of websites blacked out to 919.

Below are the websites Consob has ordered to be blacked out:

• "Binetrix" (website https://binetrix.com);

• "Bitbinx" (website https://bitbinx.com and related page https://trade.bitbinx.com);

• "E-trade" (website https://www.e-trade.cc and related page https://client.e-trade.cc);

• "The Active Trades Ltd" (website https://theactivetrades.com);

• "FX Modex" (website https://fxmodex.com and related pages https://client.fxmodex.com and https://webtrader.fxmodex.com).

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree" Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

The regulator explained that it can take several days for the black-out of these websites due to technical reasons.