Italian regulator warns about lack of license from Binance exchange

Get real time updates directly on you device, subscribe now.

Italian securities regulator Consob has warned that Binance is not licensed to operate in Italy. This will not affect the operation of the site.

Consob is on a long list of regulators warning local users that Binance is not licensed to operate in their countries. Previously, such warnings were issued by the regulators of Poland and Japan.

“Consob warns investors that the Binance group companies are not authorized to provide investment services and conduct business in Italy, including through the Binance.com website,” the regulator said in a statement.

Binance translated the site’s interface into Italian back in 2018. According to a Binance spokesperson, the warning will not affect the site and the exchange as a whole. He reiterated that the site always strives to work together with regulators and comply with regulatory requirements.

Earlier, the British regulator FSA banned Binance from providing some of the services to users from the UK. Against this background, some banks have banned deposits from their cards to this exchange. Among these banks were such giants as Barclays and Santander.

Regulators usually limit themselves to warnings. But the Securities Commission of Thailand (SEC) said it has opened a criminal case against the cryptocurrency exchange Binance on charges of illegal financial transactions.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.