Italian securities regulator blacklists multiple foreign exchange and crypto trading service providers

Consob, the Italian securities regulator, has blacklisted some new foreign exchange and crypto trading service names. Authorities have warned blacklisted companies not to lie that their unregulated products are regulated by Consob. It is reported that the updated blacklist includes a company called FSM Smart. The company offers investors a variety of trading assets, including securities, derivatives, cryptocurrencies, precious metals, and other commodities and stocks. FSM Smart also claims to have an office in Cyprus, but in fact the company is not regulated by the Cyprus Securities Regulatory Commission (CySEC).