Italy’s Companies and Exchange Commission (CONSOB) today announced it has ordered the blocking of access to eight websites offering crypto investment without having the necessary authorization.

The websites targeted by the orders are:

• “Tesorvenza” (website https://tesorvenza.it);
• “Solvexpulse53ai” (website https://solvexpulse53ai.it);
• “Valutixitalia” (website https://valutixitalia.it);
• “Dashaxid400” (website https://dashaxid400.it);
• “Sovriapro” (website https://sovriapro.it);
• “Chainexelonfin” (website https://chainexelonfin.it);
• “Cardinemodevo” (website https://cardinemodevo.it);
• “Smartbitboost” (website https://smartbitboost.it).

In issuing the orders, the Authority made use of the powers introduced by the MiCAR framework (EU Regulation and Legislative Decree No. 129/2024).

This brings the total number of websites blocked by Consob since July 2019 – when the Authority was granted the power to order the blocking of websites belonging to unauthorised financial intermediaries – to 1,861. Of these, 250 relate to crypto-related activities.

Consob stresses the evolving nature of deceptive practices that exploit the internet to steal users’ money and personal data: there has been an increase in the use of new tools, such as emails and ‘cloned’ websites, fake profiles of politicians and celebrities, and content generated using artificial intelligence systems – such as images, voices or videos – with the aim of persuading investors to make harmful investment decisions.