Websites of Invest Area and Crypto Solution get blocked in Italy

Italy’s Companies and Exchange Commission (CONSOB) announces that it has ordered the blocking of the websites of five unauthorized investment firms.

The list includes the names of online trading companies, including ones offering crypto services. These entities offer financial services in Italy without having the necessary regulatory permissions.

The websites targeted by the latest set of Consob orders are:

• Crypto Solution Ltd (website https://cryptopro24.com and related page https://client.cryptopro24.com);
• Agrico Holdings Limited (website https://investagrico.com and related page https://client.investagrico.com);
• Wirexinvest Invest Limited and Wirex UAB (website www.wirexinvest24.com and related page https://webtrade.wirexinvest24.com);
• Strat Ltd (website www.finexoinv.io and related page https://client.finexoinv.io);
• Invest Area Ltd (website https://investarea.com and related page https://accounts.investarea.com).

In issuing the orders, the Authority availed itself of the powers deriving from the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies). This piece of legislation empowers Consob to Internet service providers to block access from Italy to the websites through which financial services are offered without due authorization.

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries get blocked, has thus risen to 605. In late December 2021, Consob ordered the blackout of 28 new pages/websites that abusively offer financial services. The intervention followed a report from the Finance Police.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.