Italy's Consob Shuts Down Five Unauthorized Websites

Italian securities regulator Consob has ordered the black-out of five websites allegedly providing unauthorized financial or crypto-related services. The latest action brings the total number of blocked domains to 1,381 since the watchdog was granted website-blocking powers in 2019.

The latest group includes two platforms linked to unauthorized financial intermediation - Geneve Capital Invest and Finbridge International - and three crypto-related service providers: Atomic Wallet, Cexrqw.com, and Interersos.it.

Consob cited provisions from both the "Decreto Crescita" and the recently enacted MiCAR regulation as the legal basis for the blockages. The move is part of ongoing efforts to protect Italian investors from unregulated entities operating online without proper authorization.

The agency emphasized the importance of due diligence by investors, advising the public to verify the regulatory status of financial platforms and confirm the presence of requisite documentation, such as published prospectuses or white papers, before committing funds.

The technical implementation of these blackouts is currently underway, with delays possible as internet service providers process the orders.