Italy's Consob Blocks Nine More Unauthorized Investment Websites

Italy's financial regulator Consob has ordered internet providers to block access to nine websites offering investment services without authorization, expanding its ongoing crackdown on illegal intermediaries.

The newly blocked sites are:

• ​Spreadmarkets (spread-markets.com and client.spread-markets.com)

• ​BitVex (bit-vex.com)

• ​Financexlimited (finance-xlimited.com and client.finance-xlimited.com)

• ​Finco Trades (finco-trades.org and web.webfin-trades.org)

• ​Geneve Capital Invest (geneveinvesting.com and webtrader.geneveinvestingmarkets.com)

• ​Afex Markets (afex-markets.com and web-traderx.com)

• ​Spazio Finanziario (spaziofinanziario.pro and clients.spaziofinanziario.pro)

• ​Ynln.com (ynln.com)

• ​Bit Vanetta Limited (thebitvanettatrade.com)

Consob exercised its authority under multiple laws, including provisions of the 2019 "Growth Decree," the 2020 law on abusive offers, and the EU's Markets in Crypto-Assets Regulation (MiCAR). The regulator noted that many of the sites were offering services linked to crypto-assets without proper authorization.

With this latest action, the number of websites blocked since July 2019 has reached 1,408. Internet providers in Italy are responsible for implementing the restrictions, though the regulator cautioned that full technical enforcement could take several days.

Consob has increasingly used website blackouts as part of its investor protection strategy. Officials argue that online bans are necessary to keep unlicensed actors from soliciting Italian savers, particularly in the fast-growing but loosely regulated crypto sector.