Italian National Commission for Companies and the Stock Exchange issued a cease and desist order to Avacrypto company. This is reported by Cointelegraph that refers to official statement.
Avacrypto is suspected to offer its services to the Italian people without the proper authorization, including operating through the website. At the moment of press, Avacrypto website is unavailable.
As reported, earlier this month, the CONSOB banned two other projects for a 90-day period for allegedly offering scammy cryptocurrency investment schemes. Both firms called Bitsurge Token and Green Energy Certificates are allegedly scam projects from Avalon Life, a company that is not based in the European Union (EU).