CONSOB Blocks 9 Investment Websites in Italy

Contents

01

Introduction

02

Regulatory action and scope

03

Legal basis and enforcement

04

Scale of CONSOBs blacklist

05

Investor protection context

06

About CONSOB

Introduction

Italys markets regulator CONSOB ordered access to nine unauthorized investment websites to be blocked by Italian internet providers, citing powers under national law and MiCAR to protect local savers from unlicensed financial and crypto services.

Regulatory action and scope

The blackout orders target="_blank" kwlink="6384064000816950219725">target platforms presenting investment and crypto-asset services without the required authorizations, compelling Italian ISPs to restrict access nationwide. The list includes:

• “Spreadmarkets” (website https://spread-markets.com and related page https://client.spread-markets.com);
• “BitVex” (website https://bit-vex.com);
• “Financexlimited” (website https://finance-xlimited.com and related page https://client.finance-xlimited.com);
• “Finco Trades” (website https://finco-trades.org and related page https://web.webfin-trades.org);
• “Geneve Capital Invest” (website https://geneveinvesting.com and related page https://webtrader.geneveinvestingmarkets.com);
• “Afex Markets” (website https://afex-markets.com and related page https://web-traderx.com);
• “Spazio Finanziario” (website www.spaziofinanziario.pro and related page https://clients.spaziofinanziario.pro);
• “Ynln.com” (website www.ynln.com);
• Bit Vanetta Limited (website https://thebitvanettatrade.com). With related client portals also covered.

Legal basis and enforcement

CONSOB invoked the “Growth Decree” (Law No. 58/2019, Art. 36, para. 2-terdecies), Law No. 8/2020 (Art. 4, para. 3-bis), and MiCAR (Regulation (EU) 2023/1114) as implemented by Legislative Decree No. 129/2024 to order blackouts of illegal intermediaries and abusive offers, including crypto services lacking authorization. Providers note that technical implementation may take several days before access is fully restricted across networks.

Scale of CONSOBs blacklist

With the latest action, the total number of blocked sites has reached 1,408 since July 2019, underscoring a sustained crackdown on fake trading platforms and unauthorized intermediaries. The expanding blacklist aligns with CONSOBs ongoing investor alerts and its website-based controls aimed at safeguarding Italian savers from illegal trading websites.

Investor protection context

The move reinforces Italys broader investor protection approach, steering users toward verifying authorization status and avoiding unlicensed platforms marketed online. The action also reflects MiCAR regulation enforcement around crypto-asset services directed at Italian residents without required registrations or permissions.

About CONSOB

CONSOB is Italys Companies and Exchange Commission, the national authority overseeing financial markets, intermediaries, and public offerings to protect investors and ensure market integrity.