Italian Securities Regulator :Binance “Not Authorized” To Provide Investment Services”

The Italian securities regulator, the national community and Exchange Commission (Consob), has announced that the Binance cryptocurrency exchange does not have the authority to provide investment services and activities in Italy.& quot;

In a statement accompanying the announcement, Consob said the stock market website, Binance.com.includes sections previously described in Italian derivatives and stock market tokens.

Consob urges investors to take maximum care when dealing with cryptocurrencies and reminds investors that they may lose all their money.

Regulators ‘ reaction to Binance
The Italian regulator’s move follows recent action by regulators around the world against Binance.

Last month, the UK Financial Conduct Authority issued a warning to consumers against Binance Markets Limited’s registration of binance in the UK. Although customers in the UK can still trade cryptocurrencies on Binance, the exchange is struggling to protect fiat payment channels with several banks including Santander and Barclays blocking payments to the exchange and suspending deposits and withdrawals in Sterling. Binance also suspended Sepa Euro deposits.

The same month, the Japanese financial regulator, the FSA, warned that the crypto exchange was operating without registration.

Regulators have objected to Binance’s approach to regulating the fight against money laundering, and in particular the apparent absence of its head office on the stock exchange, with the UK’S FCA saying the former was a “concern” and the latter a “serious problem.”;

Binance, for its part, claims to have no headquarters, and Zhao, CEO of Changpeng “CZ”, said,” Our management team is not in the office, we have nowhere to go, in most people’s opinion, the headquarters we can call headquarters. So when people ask me, I don’t want to give them the wrong answer just for Tu.

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