The Commissione Nazionale per le Società e la Borsa (Consob) has announced continued enforcement under the Markets in Crypto-Assets Regulation (MiCAR), blocking a memecoin offering and shutting down eleven illicit cryptocurrency trading sites. The announcement was made in a press release on March 6, 2025.
According to Consob, it has halted the unauthorized public offering of the crypto-asset “memecoin $CORONA,” which was promoted through www.getcoronamemes.com without the required disclosure document, known as a white paper, under MiCAR regulations. Alongside this action, six cryptocurrency service websites—Spazio Finanziario (including its related pages), HTXcoin-az, Stock Credit Wallet, Paycraftv.top, Paycraftn.top, and CoinBank Exchange—were blocked for operating without the necessary authorizations required by MiCAR. These platforms were found to be providing financial services in violation of regulatory standards, posing potential risks to investors.
Consob’s crackdown on financial misconduct continues with the blacking out of four more unauthorized financial intermediation sites: Capitalgates, Tux, and AquillaFX. In total, eleven sites were blocked this week, bringing the total number of websites shut down since 2019 to 1,247. The enforcement process is ongoing, and Consob urges investors to verify service providers’ authorization before investing.
According to the European Union (EU), MiCA establishes uniform rules for crypto-asset issuers and service providers that are 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, and includes 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 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 the efficiency of financial trading.
