Italian authorities are concerned about the unsupervised use of crypto

All firms in the Binance Group are not allowed to participate in investment activities as well as services in the country

crypto

Italian authorities are concerned about the unsupervised use of crypto. Source: unsplash.com

CONSOB, the financial regulator in Italy, disapproved of the use of Binance in the provision of investment services in the nation.

This means that all firms in the Binance Group are not allowed to participate in investment activities as well as services in the country, even though some parts of the website are relayed in Italian.

The regulator is also concerned about the widespread use of crypto, which is not supervised. Savers are warned to proceed with caution when dealing with crypto assets and other related transactions. This comes as financial regulators advise Italian consumers of the risks of engaging in unauthorized and unregulated Binance products.

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