Italian finance regulator issues warning on Binance crypto exchange

Bitcoin

Italy’s securities market regulator, the Italian Companies and Exchange Commission (CONSOB), has issued a statement stating that Binance Group and affiliated companies are not authorized to provide investment services and operate in Italy.

The regulator specified that the warning refers to Binance.com, the main website of the global crypto exchange. CONSOB went on to warn the public about potential implications of Binance’s legal status in Italy, advising to exercise caution in making investment choices.

Italy has joined the growing number of countries to issue a public warning regarding Binance, the world’s largest cryptocurrency exchange by trading volume.

“In any case, it is important that investors are informed that transactions in instruments related to crypto assets may pose risks that are not immediately perceptible due to their complexity, high volatility as well as for security vulnerabilities,” CONSOB noted.

The article is developing and will be updated.

Articles You May Like

Buy Bitcoin or start mining? HashWorks CEO points to ‘attractive investment yield’ in BTC mining
Slow going for development of ESG risk disclosure standards
Nato set to bolster defence of Baltics against Russian threat
Pending home sales post surprise increase in May, likely due to brief pullback in mortgage rates
Scottrade Online Broker Review – Trading on the Website (Part 2)