Italy has blocked its citizens’ access to cryptocurrency exchange Binance on all its platforms, according to a report by the national securities regulator on Thursday.
The through the Commissione Nazionale consistent with the Società e los Angeles Borsa (CONSOB) made it clear that italians were not even allowed to wear Binance. com.
“It is vital that savers be informed that transactions on tools similar to cryptoassets would possibly provide unnoticed dangers, due to their complexity, the maximum volatility of the costs of those tools, as well as the malfunctions and cyberattacks to which the IT department The infrastructures used for such operations would possibly be subject. ” , the Array regulator said in a statement.
Binance also recently won a complaint from Thailand’s criminal for operating its online services, as well as a warning from Japanese regulators, while Canadian regulators in Ontario forced the inventory swap to limit its operations.
According to a 2020 Statista survey, 48% of Italians said they used cryptography to make purchases, highlighting the expansion in the use of virtual assets in the country.
“We are aware of CONSOB’s opinion and can verify that Binance. com is not operating from Italy. This has no direct effect on the facilities provided in Binance. com,” a Binance spokesperson told Insider.
“We take collaboration through enforcement with regulators and take our compliance obligations very seriously. We are actively keeping abreest of the evolution of policies, regulations and legislation in this new space,” the spokesperson said.
Banning other people from Binance is almost similar to banning crypto trading, given that it is the world’s largest crypto exchange in terms of trading volume. In the last 24 hours, Binance’s inventory exchange has recorded a crypto volume of around $14 billion. while the position so far Coinbase has registered around $1 billion according to Coingecko data.