The Italian securities market regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB) suspends the activities of three crypto-related companies providing unauthorized investment services, according to the report of the regulator.
The first company is a trading platform called Richmond Investing that has already violated the Consolidated Law on Finance, which is a fundamental law governing Italian financial markets by failing to register as a financial intermediary in the country.
Two other companies are Crypton Ltd. and Eagle Bit Trade were also forced to stop operation for 90 days because of the decision of the Italian regulator.
The CONSOB enforcement actions followed recent calls of the government to tighten crypto regulation in the E.U.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.