Consob Orders Blackout of 7 Abusive Financial and Crypto Websites

Italys financial regulator, Consob (Commissione Nazionale per le Società e la Borsa), has taken decisive action against a group of online platforms unlawfully offering financial and crypto-related services to the Italian public. According to a notice published on its official website, Consob has ordered the blackout of 7 websites that were either engaging in unauthorized financial intermediation or providing crypto services without proper registration.

This latest enforcement move targets four websites that operated as unlicensed financial intermediaries and three platforms promoting crypto activities without authorization. The order was issued in accordance with two regulatory frameworks: the so-called **“Growth Decree” (Decreto Crescita)**, which has empowered Consob to block fraudulent financial websites since July 2019, and the MiCAR (Markets in Crypto-Assets Regulation), which was adopted in the EU and implemented via Legislative Decree No. 129 of 5 September 2024 in Italy.

The affected websites are as follows:

• Finanza Expert – finanzaexpert.com and its subdomains, including clients.finanzaexpert.com and trading.finanzaexpert.com
• Cmswiss – cmswiss.com and webtrader.cmswiss.com
• Aspect-Markets – aspect-markets.cc, aspect-markets.online, and web.aspect-markets.trade
• UCapital Trading – ucapitaltrading.com and clients.ucapitaltrading.com
• Caa871 – caa871.it
• Sdf837 – sdf837.it
• SYBZ – sybzgroup.co

These domains were found to be operating without the required licenses, thereby breaching Italian financial laws and posing substantial risks to consumers. The block will be implemented by Italian internet service providers; however, Consob warns that the full execution may take several days due to technical processes.

Since receiving its site-blocking authority in 2019, Consob has blacked out a total of 1,275 websites suspected of fraudulent or unauthorized activity. This growing figure highlights both the scale of the issue and the watchdogs commitment to investor protection.

These enforcement actions reflect an ongoing trend of regulatory intervention against online platforms operating without proper authorization. While the websites in question may appear professional, regulatory approval is essential for firms that provide financial or crypto-related services within the European market. The growing number of blocked sites highlights the importance of verifying the legal status of such platforms and remaining informed about jurisdictional requirements before engaging in any financial transactions.