Italy's CONSOB Blocks Eight Unauthorized Crypto Investment Websites

Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to eight websites that offered crypto investment without the necessary authorization, the regulator announced.

The websites targeted by the orders are:

• “Tesorvenza” (https://tesorvenza.it)

• “Solvexpulse53ai” (https://solvexpulse53ai.it)

• “Valutixitalia” (https://valutixitalia.it)

• “Dashaxid400” (https://dashaxid400.it)

• “Sovriapro” (https://sovriapro.it)

• “Chainexelonfin” (https://chainexelonfin.it)

• “Cardinemodevo” (https://cardinemodevo.it)

• “Smartbitboost” (https://smartbitboost.it)

CONSOB issued the orders using powers introduced by the MiCAR framework (EU Regulation and Legislative Decree No. 129/2024).

The latest action brings the total number of websites blocked by CONSOB since July 2019, when the authority was granted the power to order the blocking of websites belonging to unauthorized financial intermediaries, to 1,861. Of these, 250 relate to crypto-related activities.

CONSOB noted that deceptive practices exploiting the internet to steal users’ money and personal data are evolving. It cited an increase in the use of new tools, including emails and cloned websites, fake profiles of politicians and celebrities, and content generated using artificial intelligence systems—such as images, voices or videos—aimed at persuading investors to make harmful investment decisions.