Italy’s CONSOB blocks entry to extra unauthorized funding web sites

Italy’s Firms and Trade Fee (CONSOB) has ordered the blocking of 5 new web sites that supply monetary companies with out the required authorization.

The web sites focused by the most recent set of orders are:

  • “Bitblanco” (web site www.bitblanco.com and associated web page https://webtrader.bitblanco.com);
  • “Alphascrypto” (web site www.alphascrypto.uk);
  • Billionaire Commerce Ltd (web site https://billionaire-trade.com and associated pages https://panel.billionaire-trade.com and https://buying and selling.billionaire-trade.com);
  • “Infinity Make investments” (web site https://infinityinvest.professional and associated pages https://workplace.infinityinvest.professional and https://commerce.infinityinvest.professional);
  • “CustomhouseCL” (web site www.customhousecl.com and pages https://shopper.customhousecl.com and https://platform.tnxtechno.com).

In issuing the orders the Authority availed itself of the powers deriving from the “Decreto crescita” (“Development Decree”; Legislation no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the premise of which Consob can order Web service suppliers to dam entry from Italy to web sites providing monetary companies with out the right authorization.

The variety of web sites blacked out since July 2019, when Consob obtained the facility to order that the web sites of fraudulent monetary intermediaries be blacked out, has thus risen to 970.

The black-out of those web sites by Web service suppliers working on Italian territory is ongoing. For technical causes, it may possibly take a number of days for the blocking to be carried out.



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