Financial Regulator of Italy Issued Resolution on Suspension of Activity of Three Cryptocurrency Companies — Coinzdaily

Financial Regulator of Italy Issued Resolution on Suspension of Activity of Three Cryptocurrency Companies — Coinzdaily

Altcoins Investment Regulation
November 21, 2018 by magiccryptocurrency
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The Commissione Nazionale per le Società e la Borsa (CONSOB) issued a decree according to which three companies that provide services for investing in cryptocurrency should stop providing services to users. The official statement was published on November 19th. According to the data, the first company – Richmond Investing – violated the Consolidated Finance Law
Financial Regulator of Italy Issued Resolution on Suspension of Activity of Three Cryptocurrency Companies — Coinzdaily


The Commissione Nazionale per le Società e la Borsa (CONSOB) issued a decree according to which three companies that provide services for investing in cryptocurrency should stop providing services to users. The official statement was published on November 19th.

According to the data, the first company – Richmond Investing – violated the Consolidated Finance Law (TUF), which is the main document regulating the financial market of Italy. The company did not register and did not receive permission to act as a financial intermediary in Italy.

In addition, the Italian securities market regulator suspended the activity of two more companies: Crypton Ltd. and Eagle Bit Trade. Also, the regulator has banned Alessandro Brizzi, who is a representative of Cryptoforce Ltd., to carry out any activities related to digital assets.

In accordance with the data presented, the company CryptoForce, engaged in the development of Proof-of-Stake (PoS), promoted a cryptocurrency, known as Crypton. Brizzi actively promoted the company on his Facebook page. Eagle Bit Trade, in turn, traded in unauthorized trading packages, offering them to local investors.

It is worth noting that the actions of CONSOB can be linked to the recent call by EU regulators to tighten regulation in the field of cryptocurrency.



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