A site that sold Bitcoin was seized due to financial unlawfulness

It’s called Crypt.trade.

So far our country has been waiting on the phenomenon, now the turning point.

The expert Sarzana: “For the first time, the judicial authority has established that offering trading on cryptocurrency ( without financial authority authorisation CONSOB  i.e.)  is an illegal sale of financial products, which will have consequences on all the sites in the sector”.

For the first time in Italy a website that proposes   the exchange of products based on  cryptocurrencies, bitcoins and others is being seized.  This was done by the Public Prosecutor’s Office, on Consob’s complaint, against the Crypt.trade website.

It’s also the first time in Europe that happens. “It is an important fact because the judicial authority has established that offering cryptocurrency is an illegal sale of financial products”, says Fulvio Sarzana, a lawyer among the leading experts in IT and telecommunications law. “The sentence therefore impacts directly on the sites that allow trade with cryptocurrency”.

“The same provision of the Judge gives an account of the fact that savers would have been guaranteed monthly returns between 17 and 29 percent and that such gains would be the result of trading operations on trade with cryptocurrency,” says Sarzana.

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