Italy’s CONSOB orders blocking of entry to seven unauthorised funding web sites

Italy’s Corporations and Change Fee (CONSOB) has ordered the blocking of seven new web sites that supply monetary companies with out the mandatory authorization.

The web sites focused by the orders are:

  • “BTX+” (web site https://btxplus.io and associated pages https://shopper.btxplus.io and https://webtrader.btxplus.io);
  • “Tide Applied sciences Group” (web site https://tidetechnologiesgroup.ltd);
  • Quick-MNG EU Restricted (web site www.fast-mng.com);
  • “Alfacapitalinvest” (web site https://alfacapitalinvest.com and associated web page https://shopper.alfacapitalinvest.com);
  • “Bitcoinup” e “UfinaCapital” (siti https://bitcoinup.io e https://ufinacapital.professional and web page https://ufina.commerce)
  • Digital Belief CSP Fzco (web site www.doublefinance.io).

Of those seven web sites, six are unlawful monetary intermediation web sites and one is an internet site via which a proposal of monetary merchandise is carried out within the absence of a prospectus.

In issuing the orders the Authority availed itself of the powers deriving from the “Decreto crescita” (“Progress Decree”; Regulation no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the idea 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 ability to order that the web sites of fraudulent monetary intermediaries be blacked out, has thus risen to 977.

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



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