The securities regulator of Italy, Consob has recently released a statement saying Binance exchange is not authorized to offer its services in the country. Consob’s latest warning against the exchange has added Italy to the list of global regulators opposing Binance.
As revealed by the regulatory body on Thursday, Binance has faced yet another backlash as the statement said:
In response to this, a spokesperson for the Binance Exchange said:
Being available in the Italian language since the year 2018, Binance even includes derivatives and stock tokens in Italian.
The spokesperson for Binance revealed:
Recently, Binance has faced a lot of notices, warnings, and even legal actions against it, starting with the ban imposed on Binance by the Financial Conduct Authority (FCA) of the United Kingdom.
In addition to this, it should be noted that following the warning from the authority, Binance has been losing fiat on-ramps as banks such as Barclays and Santander UK have decided to block user payments to the exchange.
Apart from Italy and the United Kingdom, the regulatory authorities in other countries such as Japan, Cayman Islands, Poland, and Thailand are on the list of countries that have either issued a warning against the exchange or have taken legal actions against its operations in their country.