⚠️ Italy Blocks Popular Crypto Platforms Over Licensing Concerns. By ChainFabricNews

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Image source: CoinGeek

 Rome, July 17, 2025 — Italy's top financial regulator, CONSOB, has taken a bold step in protecting investors by blocking access to several popular cryptocurrency and investment websites. Among them are well-known platforms like Atomic Wallet and Finbridge International, which have been operating in Italy without proper authorization.

This move is part of a broader effort by the Italian government to crack down on unlicensed financial services, especially those targeting retail investors. Along with Atomic Wallet and Finbridge, the website Cexrqw.com was also taken offline, alongside two traditional financial intermediaries.

❗ Why the Sites Were Blocked

The blocked websites were found to be offering crypto or investment services to Italian residents without being registered or authorized under Italian or European law. According to CONSOB, such activities violate the rules set out in the "Growth Decree" and the new MiCAR (Markets in Crypto-Assets Regulation) law that governs digital asset services across the EU.

In total, over 1,380 websites have been blacklisted by CONSOB since 2019. The regulator has the authority to ask internet providers to block websites that promote financial products or services illegally.

💼 What These Platforms Do

  • Atomic Wallet is a popular self-custody crypto wallet used by people around the world to store digital currencies like Bitcoin and Ethereum.

  • Finbridge International provides crypto trading services, often targeting beginner investors.

  • Cexrqw.com is a lesser-known crypto site that also failed to meet regulatory requirements.

These platforms can no longer be accessed by users within Italy unless they use workarounds like VPNs, which CONSOB strongly discourages.

🧾 A Push for Safer Crypto in Europe

This move aligns with the EU's new MiCAR regulation, which was created to bring more clarity and safety to the cryptocurrency industry. Under MiCAR, any company offering crypto services in EU countries must apply for a license and follow strict rules to protect customers.

While countries like France and Germany have already begun issuing licenses to crypto firms, Italy has not yet granted a single license under MiCAR. This leaves both companies and users in a legal grey zone.

🧠 What It Means for You

If you're an Italian investor or crypto enthusiast, here’s what you need to know:

  • Stay cautious: Don’t trust just any platform. Always check if it’s registered with CONSOB or another recognized EU authority.

  • Expect more blocks: Italy is getting tougher on platforms that don’t follow the rules.

  • Look for transparency: Licensed platforms must follow investor protection laws, so they’re generally safer.

  • Be patient: As Italy catches up with MiCAR licensing, more compliant services will enter the market soon.

✅ Final Thoughts

Italy’s latest action to block Atomic Wallet and Finbridge International is a clear signal that authorities are serious about cleaning up the crypto space. While it may cause short-term inconvenience for users, it's ultimately aimed at building a safer, more transparent market for digital assets.

For now, the best advice is simple: stick to verified platforms, stay informed about regulatory changes, and don’t ignore red flags. Crypto is evolving fast in Europe—and Italy is finally starting to catch up.

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