🇮🇹 Regulator targets domestic scam and shuts down operations
According to an official statement published on December 14th, a cryptocurrency project has been shut down by the Italian regulator for the provision of allegedly unauthorized investment services.
The financial watchdog forced Avacrypto to discontinue its tokenized sale targeted at domestic investors.
Earlier in December, two other projects, Bitsurge Token and Green Energy Certificates, saw their operations closed by the Italian government for a 90-day period under the allegation of “offering fraudulent cryptocurrency investment schemes”.
The law enforcement is part of a European Union-led strategy to skim out scams from the industry.
Source: Italian financial regulator CONSOB
25 Dec 2018
1 min read