Share this article
Italian Regulator Says Binance Is Unauthorized
The regulator said last month the unsupervised spread of crypto was a cause for concern.
Updated Sep 14, 2021, 1:25 p.m. Published Jul 15, 2021, 9:24 a.m.
Make us preferred on Google
Italy's financial regulator, CONSOB, said Binance is not authorized to provide investment services in the country.
STORY CONTINUES BELOW
- ,"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
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
SEC chair says 'time is right' for pension funds to include crypto, CFTC head says digital assets set to flourish
SEC Chair Paul Atkins and CFTC Chair Mike Selig said they are working with the Senate to get a crypto market structure bill over the line.
What to know:
- SEC Chair Paul Atkins said the "time is right" for 401(k) plans to include cryptocurrency, provided it is done in a measured way with guardrails to protect retirees.
- The remarks came as the Senate Agriculture Committee advanced a draft crypto market structure bill that would expand the CFTC's role and clarify its oversight boundaries with the SEC, though the legislation still faces a long road to becoming law.
- CFTC Chair Michael Selig predicted digital assets will "flourish" under forthcoming U.S. rules, arguing that clear national standards could bring blockchain firms back onshore and make the U.S. a premier hub for crypto markets.
Top Stories
