Binance is not authorised to carry out activities in Italy, the country's market watchdog said on Thursday, joining a string of global regulatory moves against the cryptocurrency exchange.
Binance Group companies are not authorised to provide investment services and activities in Italy, despite sections of its website offering information in Italian on derivatives and tokenised versions of stocks,"Savers are invited to make use of their utmost diligence in order to make their investment choices in full awareness, verifying in advance that the websites through which they make the investment can be attributed to authorised subjects," it said.
The regulator may also order unauthorised investment services providers to stop offering their services, the letter said. A Binance spokesperson said its website did not operate out of Italy and that the Consob notice had no direct impact on its services. He declined to comment on the letter.
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