Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has said that these platforms were running trades illegally because they did not obtain the required licenses to operate. CONSOB made an official request to all internet service providers (ISPs) in Italy to have all of these sites blocked.
In the last few months, CONSOB has clamped down on almost 150 different sites, deeming all of them as illegal as they did not get the right license or documentation. The regulator has also said that the decision is appropriate according to the Consolidated Law on Finance (TUF) and article 86 of the Mifid 2.
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