Italy’s Consob Blocks Four Crypto Platforms for Unauthorized Services

Italy‘s financial markets watchdog, Consob (Commissione Nazionale per le Società e la Borsa), has announced the blackout of four additional websites providing unauthorized cryptocurrency-related services to Italian users. The latest move, disclosed in a press release dated May 2, 2025, underscores the regulator’s ongoing efforts to combat fraudulent online financial activity, particularly in the rapidly evolving crypto sector.

The targeted platforms include:

• Egplus.vip
• Egalite.bond
• Arbismart UAB (including its dashboard page)
• Blockbyteq.top

These websites were found to be offering investment or crypto-asset services without the necessary authorizations required under Italian and European Union law.

This enforcement action leverages new powers granted to Consob under the Markets in Crypto-Assets Regulation (MiCAR)—formally known as Regulation (EU) 2023/1114—alongside the provisions of Italys Legislative Decree No. 129 of September 5, 2024. These legislative tools enable Consob to order the blacklisting of platforms operating illegally, especially those targeting retail investors with unlicensed or deceptive financial offerings.

Since July 2019, when Consob was first granted the authority to order the shutdown of abusive financial intermediary websites, the total number of blacked-out sites has reached 1,304. This number reflects a growing trend of enforcement actions aimed at curbing digital financial fraud amid increasing retail participation in online investing.

The process of implementing the blackouts is currently underway, with Internet service providers (ISPs) in Italy responsible for restricting access to the flagged domains. Consob notes that due to technical implementation timelines, the blackouts may take several days to be fully effective.

Investor Warning: Due Diligence Is Key

In light of these developments, Consob is once again urging investors to exercise caution when engaging with online financial platforms. Users are encouraged to verify whether a company is licensed to operate and to ensure that any investment offer is accompanied by a proper prospectus or white paper—as required by law.

To support public awareness, Consob maintains a dedicated “Watch for Scams!” section on its official website (www.consob.it). This portal offers practical resources to help investors identify and avoid financial fraud.