Binance not authorized to provide services in Italy
The Italian Companies and Exchange Commission (CONSOB) has issued a warning about Binance Group. On Thursday, the regulator stated that its companies are not authorized to provide investment services and activities in Italy.
According to the warning, the "Binance Group" companies are not authorized to provide investment services and activities in Italy. Binance is not even allowed to do so from their website, www.binance.com. Whose sections called "derivatives" and "Stock Token" were previously also written in Italian.
The watchdog also warns of the associated risks crypto-related investment instruments bring with them because of the high volatility of the crypto market and the possibility of cyber-attacks.
Italy has joined the list of countries warning Binance for its activities
Italy has now joined the list of multiple countries that have warned Binance for doing activities in its countries. The first warning this year came from Japan. So far, the list includes Canada, Japan, the U.K., the Cayman Islands, Poland, Thailand, and, most recently, Malta. All these countries have issued warnings because they don't want Binance to provide service to their citizens. The main reason is that Binance is not cooperating with regulators.SEPA payments are still not possible on Binance
Clear Junction, a payment processor, has also confirmed not working together with Binance anymore. Clear Junction was the party that arranged the SEPA payments for the exchange. SEPA payments are an easy and free way for Europeans. Because of the break up, these payments are not possible on Binance anymoreWant to know what our approach is to the situation with Binance? Click here
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