Number of unauthorized investment websites blocked in Italy surpasses 160

Maria Nikolova

Italy’s Consob has issued orders for the blocking of access to seven unauthorized online trading websites.

Italy’s Companies and Exchange Commission (CONSOB) keeps making use of the powers granted to it under the so-called “Growth Decree”. On February 27, 2020, the regulator said it issued orders for the blocking of access to seven websites of entities that offer investment services to Italian residents without having the necessary permission to do so.

The seven websites are listed below:

  • Prime-Investfx Ltd (www.prime-investx.com);
  • “4FX Royal” (https://4fxroyal.com);
  • GlobalFx Ltd (https://globalfxs.org);
  • Light Media Ltd (www.wincapitalpro.com);
  • “AJ Asset” (https://aj-asset.com and https://platform.aj-asset.com);
  • “VirtualStocks” (https://virtualstocks.io).

The total number of websites which have been blocked by Consob since last July has thus risen to 161. A week ago, the Italian regulator ordered the blocking of seven other websites.

The activities for the blocking of the websites by the Internet service providers, operating on the Italian market, are ongoing. For technical reasons it can take several days for the black-out to come into effect.

Let’s note that, in addition to blocking of access to unauthorized websites, Consob uses other measures to protect investors. In December 2019, for instance, the Italian regulator banned Rodeler Limited, the Cypriot parent of 24fx and 24option, from providing investment services in Italy and from making solicitations and acquisitions of new clients in the country as well as to continue its relations with Italian clients. The investment firm must be compliant with the detailed orders given by the Italian clients for closing the open accounts.

Consob explained back then that the measure was necessary as Rodeler Limited had been repeatedly violating the regulations in force despite the directions of the Cyprus Securities and Exchange Commission (CySEC), issued in response the reports sent by Consob to the CySEC.

Read this next

Digital Assets

Ledger taps MoonPay for instant crypto purchase and token swaps

Crypto hardware wallets provider Ledger and digital payment processor MoonPay announced on Monday new features and products to sweeten their service offerings.

Retail FX

CySEC delists Leverate from investor compensation fund

The Cyprus Securities and Exchange Commission (CySEC) announced that Leverate, a provider of brokerage solutions for the financial services industry, has been excluded from its investor compensation fund today.

blockdag

Top Crypto Investment: BlockDAG Outpaces Bitcoin Price and Cardano ADA Upgrades, Securing $19.3M in Revolutionary Presale

After plummeting below the crucial $70,000 mark amidst geopolitical tensions, the Bitcoin price is signalling a recovery as it climbs past $63,000. Concurrently, Cardano ADA upgrades, particularly the much-anticipated Chang Hardfork.

Fundamental Analysis, Tech and Fundamental

Global FX Market Summary: Middle East, US economic data, Eurozone data April 22 ,2024

US Dollar strengthens as easing Middle East tensions and strong economic data boost investor confidence, while dovish central banks and weak data weigh on the Euro.

Digital Assets

Thailand moves to block crypto websites to combat online crime

Thai authorities announced that they will block access to unauthorized cryptocurrency platforms. The decision was made after a meeting of the Technology Crime Prevention and Suppression Committee.

Tech and Fundamental, Technical Analysis

GBPUSD Technical Analysis Report 22 April, 2024

GBPUSD currency pair can be expected to fall further toward the next support level 1.2200, previous strong support from November.

Fintech

TT now enables users to create synthetic multi-leg instruments

“TT Splicer combines the ease and flexibility of TT’s market-leading Autospreader with the power of our best-in-class execution algos to uniquely minimize slippage and optimize trade execution when trading synthetic multi-leg spreads.”

Fintech

Imandra launches FIX Wizard: AI assistant for FIX connectivity suite

“LLMs hold tremendous promise, but ultimately cannot be trusted in regulated environments. By combining their strengths with scalable, rigorous automated reasoning, we obtain a kind of magic: conversational interfaces with correct reasoning and domain-specific skills.”

Chainwire

Sui Overflow Hackathon Funding Pool Balloons to $1,000,000 as New Sponsors Join

Alibaba Cloud, AngelHack and dWallet are among the latest supporters for the global event.

<