The Commissione Nazionale per le Società e la Borsa (Consob) has announced the black-out of eight websites involved in the unauthorized offering of financial services or crypto-activities under the Markets in Crypto-Assets Regulation (MiCAR). This announcement was made through a press release on March 27, 2025.
Consob has ordered the shutdown of these websites, which were providing financial and cryptocurrency services without proper authorization. This includes four websites engaged in unauthorized financial intermediation and four involved in unlawful cryptocurrency services. The actions were taken under the “Decreto crescita” (Growth Decree) and MiCAR regulations, aimed at protecting Italian investors from fraudulent online activities. The blocked websites include those operated by Investing Banks, Pim Mtf Markets Limited, Trade Republica, Top Markets Ltd, Deroka UAB, and DTSocialize Holding PLC.
Since gaining the authority to block fraudulent websites in July 2019, Consob has now blacked out a total of 1,268 such sites. The process is ongoing and may take several days for the websites to become fully inaccessible due to technical reasons. Consob’s efforts are intended to safeguard investors and ensure that only authorized operators can offer such services in Italy.
According to the European Union, MiCA establishes uniform rules for crypto-asset issuers and service providers not covered by existing EU laws. It aims to ensure transparency, consumer protection, and market stability with specific obligations for different types of crypto-assets, including e-money and asset-referenced tokens. The regulation became effective on December 30, 2024, including provisions on governance, disclosure, and preventing market abuse with oversight by EU authorities like the European Banking Authority (EBA) and European Securities and Markets Authority (ESMA).
The Commissione Nazionale per le Società e la Borsa (Consob) is Italy’s financial market regulator responsible for ensuring transparency and proper conduct among financial operators to protect the integrity of the financial system and safeguard investors. It monitors compliance with financial regulations, prevents misconduct, and takes action when necessary. Consob ensures that investors have access to accurate information for informed investment decisions while promoting efficient financial trading.
