Copy link
Increase text size
Decrease text size
Link copied

Italy shuts down 6 foreign exchanges, 2 crypto trading sites

Image by JÉSHOOTS from

Tue, 11 Feb 2020, 11:39 am UTC

The Italian securities regulator has shut down a total of eight FX websites for operating illegally in the country, Finance Magnates reported.

Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down six websites offering trading in forex and CFDs. The other two dealt in cryptocurrencies – either in the form of underlying coins or related derivatives such as CFDs (contracts for difference).

The crypto trading and foreign exchange sites that were clampdown by the CONSOB are as follows:

  • Trade Com Limited (website

  • Cryptobase (websites and

  • GotechFX (website

  • Waltika Partners LTD (websites and

  • GAM Group Ltd – MarketsFX (website

  • Honest Capital Ltd (website

The regulator requested Italian Internet service providers (ISPs) to block access to these sites as they did not have appropriate licenses to carry on their activities. This was supported by the “Descreto Crescita” law that allows CONSOB to block the access of investors to online brokers.

In similar action over the past couple of months, the regulator has ordered almost 150 domains down. In December, it targeted Forex & CFD broker 24Option and investment firm Hoch Capital –which are CySEC-licensed Forex & CFD brokers – and forced them to shut down its operations in the country.

According to Cointelegraph, in order to protect the investors, Italian authorities established cryptocurrency regulation locally. A 2016 ministerial resolution brought into force a decision from the European Court of Justice which stipulates that no tax would be imposed on the exchange of crypto assets against fiat, but the profits and losses on these transactions should be taxed.

Meanwhile, Hong Kong-based blockchain remittance startup Bitspark announced that it would shut down on March 4. South Korean crypto wallet Bitberry is also terminating its services officially on Feb. 29.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,666.97 (+1.65%)
  • Ethereum (ETH) $242.91 (+2.70%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $257.20 (+3.80%)
  • Bitcoin SV (BSV) $197.77 (+1.59%)
  • Bitcoin (BTC) $9,666.97 (+1.65%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.