The Italian Companies and Exchange Commission (CONSOB) has ordered the blocking of seven new websites that provide financial services without the necessary authorization, targeting:

• “BTX+” (website https://btxplus.io and related pages https://client.btxplus.io and https://webtrader.btxplus.io);
• “Tide Technologies Group” (website https://tidetechnologiesgroup.ltd);
• Fast-MNG EU Limited (website www.fast-mng.com);
• “Alfacapitalinvest” (website https://alfacapitalinvest.com and related page https://client.alfacapitalinvest.com);
• “Bitcoinup” e “UfinaCapital” (siti https://bitcoinup.io e https://ufinacapital.pro and page https://ufina.trade)
• Digital Trust CSP Fzco (website www.doublefinance.io).

Of the seven sites, six are illegal financial intermediary sites and one is a site that offers financial products without a prospectus.。

In issuing the order, the Authority took advantage of the powers conferred by the "Decreto crescita" ("Growth Decree"; Law No. 58 of 28 June 2019, article 36, paragraph 2 - Decree).。According to the decree, Consob can order internet service providers to block access to websites offering financial services from Italy without proper authorisation.。

Since July 2019, when Consob was empowered to order websites of fraudulent financial intermediaries to be shut down, the number of websites shut down has risen to 977.。

The closure of these sites by Internet service providers operating in Italy is still under way.。For technical reasons, implementing the lockdown could take days。