Italy Is Not Authorizing The Crypto Exchange Binance

Italy is not authorizing the crypto exchange Binance. Italian financial regulation agency CONSOB reported that the cryptocurrency exchange is not one of the authorized companies.

The following statements were used in the statement on the official website of CONSOB, which also made a statement last month that the spread of unchecked cryptocurrency investments is causing concern: "CONSOB warns investors that 'Binance Group' companies are not authorized institutions to provide financial services in Italy. The same applies to 'derivatives' and 'Equity Tokens' on the website www.binance.com. The public should pay attention to these terms. We urge everyone to make their investment choices consciously. There may be situations where all the money invested in the platform is lost, unforeseen risks may be taken by investors, or the IT infrastructure may be targeted as a result of possible cyber attacks." Changpeng Zhao, CEO of Binance, which has problems with regulatory agencies in many countries, said in a statement last week that the recent pressures from regulators are positive for the cryptocurrency industry. The famous CEO used the following statements: “More regulation means more positive signs. It makes people feel secure when they come to the cryptocurrency world.”