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Italy has ruled that CashFX Group is an unlawful enterprise.

As a result, CashFX Group’s website must now be disabled across the country, according to CONSOB, Italy’s main financial regulator.

CashFX Group was categorized by CONSOB as an “abusive financial intermediary” as a result of an internal inquiry.

CashFX Group “offer(s) financial services/financial products unlawfully,” according to the regulator.

This conclusion provides CONSOB the authority to impose a blackout by Italian law.

These websites are still being blocked by Internet service providers based in Italy.

The black-out may not start for several days due to technological issues.

On February 3rd, the Italian CashFX Group ban became effective.

It is illegal for CashFX Group to sell securities in Italy or anyplace else on the globe.

The twenty-first country to pursue legal action against CashFX Group in Italy.

The warning from CONSOB comes in the wake of similar fraud alerts from countries like Belgium, New Zealand, Jersey, Canada (New Brunswick, Manitoba, Saskatchewan, Quebec, and British Columbia), Panama, the Bahamas, Norway, the UK, Singapore, Australia, Portugal, Sweden, Ireland, South Africa, and the Philippines.

Huascar Lopez and the other Dominican Republic citizens manage CashFX Group.

The company’s marketing is led by US and Canadian residents Luigi Bruni and Justin Halladay, respectively.

CashFX Group has postponed its impending demise into 2021 by delaying and limiting withdrawal requests. These delays have been ongoing through 2022.

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