Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to several new unauthorized investment websites.
The most recent set of target orders:
- “Blackridge Capital Management Ltd” (website and related page
- “Alphascrypto” (websites www.alphascrypto.co.uk and www.alphascrypto.website);
- “Fast-MNG” (website www.fast-mng.eu).
The Commission has been blocking websites since July 2019, when the “Decreto crescita” (“Growth Decree”, Law No. 58 of 28 June 2019, Article No. 36, paragraph 2-terdecies) gave Consob the power to order internet connection service providers to prohibit access, from Italy, to websites through which financial services are offered without proper authorization.
The number of unauthorized financial websites blocked in Italy recently exceeded 1,000.
The process of implementing the shutdown of these websites by Internet service providers is ongoing. For technical reasons, it may take several days for the block to take effect.