• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Italy joins Japan, UK, and others in issuing a notice against Binance
Italy

Italy joins Japan, UK, and others in issuing a notice against Binance

July 15, 2021 by Sahana Kiran

Binance has garnered another warning from a brand new regulator. Italy had jumped on the bandwagon after Japan, UK, Cannada, Poland, Thailand, and the Cayman Islands.

Prominent cryptocurrency exchange, Binance, was flourishing right after the crypto-verse began booming in terms of price. As the industry’s popularity advanced, crypto exchanges, prevalent ones like Binance, welcomed an array of new members into the market. This streak was disrupted with the intervention of regulators from around the world.

Just as Binance was trying to deal with one regulator, another one would pop up with a notice. The list seemed neverending as Italy’s Companies and Exchange Commission [CONSOB] became the latest addition.

Italy’s financial regulator calls out Binance

In a recent announcement, the Italian regulator CONSOB pointed out that Changpeng Zhao’s exchange wasn’t authorized to operate in the region. The regulator made sure to stress the fact that investors were to invest in “utmost diligence.”

The notice further read,

“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.”

In addition to this statement, Italy’s regulator made sure to warn investors in making hasty decisions, particularly with regard to crypto-assets. The regulator noted that investors had to handle crypto with utmost caution as it could lead to a loss of money.

The crypto exchange could be losing out on significant partners across the globe if the regulatory pressure on it persists. The exchange has already lost an array of partners in the UK. Just yesterday, Binance went on to put a hold on withdrawals in GBP for the customers of the UK. These glitches could pose unfavorable for the platform, which could further pave the way to the loss of customers.

Filed Under: News, World Tagged With: Binance, Italy

Primary Sidebar

Recent Posts

  • Binance Joins Hands With Kazakhstan to Develop a Crypto Framework May 26, 2022
  • Crypto Transfers in Thailand Will Be Exempt From VAT Until 2023 May 26, 2022
  • Exchanges Show Support in Assisting LUNA’s Revival by Listing the New LUNA 2.0 May 26, 2022
  • 29 Moonbird NFTs Worth $1.5M Succumbs To A Phishing Attack May 26, 2022
  • How to Play Craps at Crypto Casinos May 26, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.