Consob, the Italian Securities Regulator, has added a new measure to its list of websites that are forbidden from trading in order to better protect Italian investors. Illegal platforms from Italy that provide trading products like CFDs and forex are not included in this policy. The present wave of activity exposed a number of domains, including Capital4it Ltd., Vantage Global Limited, and Luno Invest.
This move awakens long-standing concerns about investing in cryptocurrencycurrency assets and contracts for differences such as CFDs. This declaration is a part of a larger campaign associated with laws that demand deference to regional customs that have sparked the Italian banking community’s incense.
In an effort to prevent the operation of unapproved internet trading services, the regulatory body has been quite aggressive. Consob is authorized by the “Decreto Crescita” statute to direct Italian ISPs to obstruct access to these unlawfully operating websites. In order to protect local traders from fraud and legal financial activity, a few domains have been restricted since then.
The Italian Competition Authority penalized the brokerage company eToro €1.3 million in March of this year for using a misleading advertisement to highlight the nation’s efforts to fight unfair trade practices and transparency.
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