Italian regulator has suspended the activities of the company that issued Liracoin

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The national Commission CONSOB issued a notice to suspend the activities of the investment company Tessline, which describes the activities of the company to promote related cryptocurrency Liracoin.

The notice also noted several organizations that required the company to cease operations that violate the financial laws of Italy. In particular, CONSOB referred to article 18, which sets out the statutory obligations for financial companies under the guidance of the regulatory authority and the Central Bank of Italy.

The notice States that the regulator has officially suspended all activities associated with the proposal and promotion Liracoin, for the next 90 days, and was deprived of firms to promote investment products.

The solution of the problems of regulation in cryptocore

At CONSOB there are formal opportunities for this kind of suspension. It has previously introduced similar bans for the two firms allegedly involved in the Scam with cryptocurrency. At the same time, the regulatory body issued jointly with the Office for financial services in Malta, a statement in respect of financial transactions with cryptocaryeae that do not have licenses for both territories.

Since November of last year, the regulator has sent the notice of termination or denial activities to several companies suspected of providing unlicensed investment services.

Moreover, three firms were closed forcibly.

Earlier Tessline has been the focus of regulators for violation of the rules, including in Ireland, where the Central Bank of Ireland has issued a warning about the unauthorized activities of the company in February.

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Tags: CONSOB Tessline

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