Italy’s national securities regulator has issued a notice suspending investment firm Tessline and its crypto liracoin

Italy’s national securities regulator, La Commissione Nazionale per le Società e la Borsa (CONSOB), has issued a notice suspending investment firm Tessline and its cryptocurrency liracoin.

In its notice, CONSOB stated that a series of entities and websites affiliated with both Tessline and liracoin are ordered to terminate their violation of Article 18 of Italy’s Consolidated Law of Finance.

According to a translation from the European Corporate Governance Institute, Article 18 stipulates statutory requirements for the provision of investment services in Italy, subject to the conditions established by the country’s central bank and CONSOB.

The notice continues to state that CONSOB has formally suspended all offerings and promotion of liracoin to the public for a period of 90 days, as well as the public offer of investment plans as promoted by Tessline.

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