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Italian Regulator Says Binance Is Unauthorized

The regulator said last month the unsupervised spread of crypto was a cause for concern.

By Sheldon Reback
Updated Sep 14, 2021, 1:25 p.m. Published Jul 15, 2021, 9:24 a.m. 1 min read
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Italy's financial regulator, CONSOB, said Binance is not authorized to provide investment services in the country.

  • ,"Companies of the Binance Group are not authorized to provide investment services and activities in Italy" even though parts of the website were written in Italian, CONSOB said in a statement on its website.
  • The regulator said last month that the unsupervised spread of crypto was a cause for concern.
  • CONSOB reiterated the warning, advising savers to "adopt the utmost caution" when transacting in crypto assets.
  • The announcement follows a string of similar statements from financial regulators advising consumers that Binance is unregulated or unauthorized to be operating in their jurisdictions.

Read more: Binance Suspends Sterling Withdrawals Again: Report

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