The Italian Companies and Exchange Commission (CONSOB) issued a stark warning about Binance Group on July 15, stating that its companies are not authorized to provide investment services and activities in the country.
The watchdog specified that this includes binance.com, the website of the world's largest exchange:
Consob warns savers that the companies of the "Binance Group" are not authorized to provide investment services and activities in Italy, not even through the website www.binance.com whose sections called "derivatives" and "Stock Token," relating to instruments related to crypto-assets, were previously also written in Italian.
As reported by U.Today, the exchange is also facing a class-action lawsuit from a major Italian law firm that represents disgruntled futures traders.
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Vladislav Sopov