Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of seven new websites offering financial services without the necessary authorization.
The websites targeted by the orders are:
- “BTX+” (website and related pages and
- “Tide Technologies Group” (web
- Fast-MNG EU Limited (website www.fast-mng.com);
- “Alfacapitalinvest” (website and related page
- “Bitcoinup” and “UfinaCapital” (site e and page
- Digital Trust CSP Fzco (website www.doublefinance.io).
Of these seven sites, six are illegal financial intermediation sites and one is a site through which financial products are offered in the absence of a prospectus.
In issuing the orders, the Authority made use of the powers deriving from the “Decreto crescita” (“Decree on Growth”; Law No. 58 of June 28, 2019, Article No. 36, paragraph 2-terdecies), under which Consob can order Internet service providers to block access from Italy to websites offering financial services without proper authorization.
The number of websites taken down since July 2019, when Consob was given the power to order the websites of fraudulent financial intermediaries to be blocked, has risen to 977.
The shutdown of these websites by ISPs operating on Italian territory continues. For technical reasons, it may take several days for the block to take effect.