Italian regulation agency: Binance does not have permission

Italian financial regulation agency CONSOB stated that Binance is among the companies that are not allowed in the country.

About Binance, the world’s largest cryptocurrency exchange in terms of volume, the country’s financial regulator, CONSOB, announced that the exchange is not among the permitted companies.

The statements on the official website of CONSOB, which also made a statement last month that the spread of unchecked crypto money investments causes concern, are as follows:

“CONSOB warns investors that ‘Binance Group’ companies are not authorized to provide financial services in Italy. The same applies to ‘derivatives’ and ‘Equity Tokens’ on the www.binance.com website. The public should pay attention to these conditions. We invite savers to make their investment choices consciously. There may be situations where all the invested money is lost, unforeseen risks may be taken, or the IT infrastructure may be targeted as a result of cyberattacks.

Zhao, CEO of Binance, who was banned from the Italian regulation agency , said “we do not escape regulation”

In Binance, which has problems with regulatory agencies in many countries, CEO Changpeng Zhao said in a statement last week that the recent pressures from regulators are positive for the cryptocurrency industry. The famous CEO, also known as CZ, had this to say:

“More regulation means more positive signs. It makes people feel safe on their arrival in the cryptocurrency world.”

While the SEC in Thailand filed a criminal complaint about Binance, an investigation was also started on the stock market in the Cayman Islands. The news that the stock market was stopped in the UK was also denied by Binance and said, “It has no direct impact on Binance.com”.

Bans have been coming to Binance lately

Binance, which was added to the list of companies that are not allowed in the country in Italy, recently received bans from different countries. There are regulations regarding Binance in some countries such as Japan, Thailand and the Cayman Islands, especially the UK.

SEE ALSO; Giant Regulation Step in the UK from Binance

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *