Consob Issues New Website Blackouts to Combat Unauthorized Financial and Crypto Services

Consob, Italy's securities regulator, has issued new orders to block several websites found to be providing unauthorized financial services and crypto-asset offerings. These actions are in line with the powers granted under the "Growth Decree" (Law No. 58 of 28 June 2019) and the MiCAR regulation (EU Regulation 2023/1114), which allow Consob to block platforms that operate without the necessary licenses.

In the most recent actions, Consob has targeted the websites of Praxiscarma S.A., which was offering unauthorized financial intermediation services, and several domains under the "RYE" label, which were illegally providing crypto-asset services to Italian users without proper authorization under MiCAR. These blackouts are part of the regulator’s ongoing efforts to protect investors and ensure that platforms operating in Italy comply with national and EU financial regulations.

The websites and related pages ordered to be blocked are:

• "Praxiscarma S.A." (website: www.praxiscarma.com and related page: https://office.praxiscarma.com);

• "RYE036, RYE326, 03WAKIH, SJCJ11, 01LUHAR, GKJ159, DSHS82, GFJ123, L88159, FGJ329" (websites: https://rye026.it, https://rye326.it,https://03wakih.it, https://sjcj11.it, https://01luhar.it, https://gkj159.it, https://dshs82.it, https://gfj123.it, https://l88159.it, https://fgj329.it).

Since the introduction of website blocking powers in July 2019, Consob has blocked a total of 2,270 individual domains, including 1,507 websites and 763 related pages, as part of efforts to eliminate financial fraud. In 2025 alone, 307 websites have been blocked, with a significant portion related to illegal crypto-asset activities.

These actions demonstrate Consob’s ongoing commitment to protecting investors from fraudulent schemes. Internet service providers in Italy are in the process of implementing these blocks, and it may take several days for the measures to be fully activated.

BrokersView Reminds You

Public is urged to remain vigilant and verify the legitimacy of online platforms before making investments. It is essential to ensure that any platform offering financial services or crypto assets is properly licensed and regulated. Click to find more brokers regulated by Consob.