CONSOB, the Italian financial regulator in charge of regulating the securities market of the country, has recently issued a press release in which it announced that Binance doesn’t have the authorization to carry out activities there.
“Consob warns savers that the companies of the ‘Binance Group’ are not authorized to provide investment services and activities in Italy,” mentions the press release.
CONSOB claims that Binance isn’t allowed to provide services via its website. It also reminded people to be careful when dealing with crypto: “Furthermore, savers are invited to adopt the utmost caution in making transactions on instruments related to crypto-assets.”
In June, Binance was the largest crypto exchange by trading volume. But now, the exchange is dealing with more and more regulation and authorization problems, in several countries.
The UK, Japan, and Germany are among the countries that have put a target on the back of Binance.
CONSOB also added:
“Savers are invited to make use of their utmost diligence in order to make their investment choices in full awareness, verifying in advance that the websites through which they make the investment can be attributed to authorized subjects.”