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Italian Regulator Says Binance Is Unauthorized

By  |  July 15, 2021

Italy’s financial regulator, CONSOB, said Binance is not authorized to provide investment services in the country.

,”Companies of the Binance Group are not authorized to provide investment services and activities in Italy” even though parts of the website were written in Italian, CONSOB said in a statement on its website.

The regulator said last month that the unsupervised spread of crypto was a cause for concern.

CONSOB reiterated the warning, advising savers to “adopt the utmost caution” when transacting in crypto assets.

The announcement follows a string of similar statements from financial regulators advising consumers that Binance is unregulated or unauthorized to be operating in their jurisdictions.

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