The Italian Securities Commission (Consob) has used its new powers under the EU Markets in Crypto-Assets Regulation (MiCAR) for the first time to block a website offering a token to the public without the required notification of the crypto-asset white paper. In parallel, it ordered the blocking of five websites for unauthorised financial intermediation, bringing the number of sites blocked during the week to six. The token-related measure targeted www.intelligenza-ai.com. The five websites offering abusive financial intermediation services were Revolutfx, Macan Holdings Ltd, Emeraltrade, ITradinFX and TSAFGroup, including their related client and trading pages. Consob also published a warning on “scams squared”, where fraudsters approach people already harmed by investment scams by posing as lawyers appointed by Consob, sometimes misusing Consob’s logo or other identifiers, and request payment for purported reimbursement or debt-recovery services that are then not provided. The total number of sites blocked by Consob since it obtained website-blocking powers in July 2019 reached 1,232. Implementation of the blocking orders by Italian internet connectivity providers was underway and could take a few days for technical reasons.
Italian Securities Commission (Consob) 2025-02-21
Italian Securities Commission blocks an unnotified crypto-token offer under MiCAR and orders six website blocks for unauthorised services
The Italian Securities Commission (Consob) used its new powers under the EU Markets in Crypto-Assets Regulation (MiCAR) to block a website offering a token without the required crypto-asset white paper notification. Consob also blocked five websites for unauthorized financial intermediation, raising the total blocked sites to 1,232 since July 2019. Additionally, Consob warned about "scams squared," where fraudsters impersonate lawyers to exploit victims of previous investment scams.