Cryptocurrency exchange Binance is also banned in Italy

After the crypto exchange Binance was banned in Italy, investors began to fear. Why did Italy ban the world’s largest crypto exchange?

Cryptocurrency exchange Binance has been banned in Italy on the grounds that it is not authorized to provide investment services or activities.

In the statement made by the Italian authorities, it was stated that the crypto money exchange named Binance does not have any operating authority in Italy, so the exchange is banned in the country.

With this statement, Italy became one of the countries that banned Binance.

With the statement published on the website of Italian market regulator Consob, the activities of Binance Group, which provides Italian services in the country, were also blocked.

In the statement, it was emphasized that although Binance offers information in Italian on its website, it is not authorized to provide investment services or activities in the country.

Consob description

Consob, in its statement, underlined that Italian investors and savers should exercise the utmost care when making their investment choices, and stated that they should pay attention to the fact that the websites where they invest are approved by the authorized places.

In the statement from Binance on the subject, it was stated that the notification made by Consob did not have a direct impact on its services.

On the other hand, Italy is one of Binance’s most important markets. So much so that there are more than 25,500 active users in the Italian Telegram account of the crypto money exchange.

WHICH COUNTRIES HAVE BANNED BINANCE?

Italy is not the first country where Binance has been banned. The cryptocurrency exchange was previously banned by Thailand, Japan, Germany, the USA, the UK, and China.