Consob blocks 23 crypto-related websites under MiCAR powers

Commissione Nazionale per le Società e la Borsa (Consob) has ordered the blocking of 23 websites accused of unlawfully providing crypto-asset services and disseminating related promotional content to Italian investors.

The latest enforcement action targets several entities operating through multiple domains, including “Patrimèra,” “Aziovale,” “Portafica,” “Stream Herplex Nx,” and “Epic Maxalt Neo.” According to Consob, the websites were offering crypto-related services without the required authorisation under the European Union’s Markets in Crypto-Assets Regulation (MiCAR).

The regulator said the measures were adopted under powers introduced through the MiCAR framework and Italy’s Legislative Decree No. 129/2024, which allow authorities to order the blocking of websites involved in unauthorised crypto-asset activities and related marketing communications.

With the latest action, the total number of websites blocked by Consob since July 2019 has reached 1,704. Of these, 201 were linked specifically to crypto-asset activities.

Consob also warned investors about the growing sophistication of online financial fraud, highlighting the increased use of cloned websites, fake celebrity endorsements, impersonation tactics, and AI-generated content such as synthetic voices, videos, and images designed to mislead users into making harmful investment decisions.

The authority reminded the public to verify whether investment and crypto-service providers are properly authorised before transferring funds or sharing personal information. Investors were also urged to check whether the required prospectus or white paper has been published for financial or crypto-related offerings.

Italian internet service providers are blocking access to the flagged websites.

Table: Consob Crypto-Related Website Blocking Action