CONSOB, Italy’s Companies and Exchange Commission, has ordered the blocking of 10 websites found to be illegally offering crypto-asset services to investors, as part of its ongoing efforts to combat unauthorized financial activity.
The regulator said the targeted platforms were operating without the required authorization to provide crypto-related services within Italy.
By ordering internet service providers to restrict access, CONSOB aims to prevent users from engaging with platforms that may pose risks such as fraud, lack of transparency, and insufficient investor protection.
The latest action reflects CONSOB’s broader enforcement strategy under powers granted by Italy’s “Growth Decree,” which enables the authority to block access to financial websites operating in violation of regulatory requirements.
Since the introduction of these powers, the regulator has consistently taken action against a growing number of unlicensed operators.
Crypto-assets have become a particular area of focus for regulators across Europe, as the rapid expansion of digital asset markets has raised concerns about investor safety and market integrity.
Unauthorized platforms often operate outside regulatory oversight, making it difficult to ensure compliance with anti-money laundering rules and consumer protection standards.
CONSOB has repeatedly warned investors to exercise caution when dealing with online platforms offering crypto services, especially those promising high returns or operating without clear regulatory credentials.
The authority encourages users to verify whether a platform is registered or authorized before making any financial commitments.
The blocking of these 10 websites is part of a series of similar actions taken by CONSOB in recent months, highlighting the regulator’s proactive stance in addressing risks associated with digital assets.
The move also aligns with broader European efforts to strengthen oversight of the crypto sector, particularly as new regulatory frameworks continue to emerge.
Authorities are increasingly focused on ensuring that innovation in financial technology is balanced with robust safeguards for investors and the financial system.
