Italian securities regulator has added crypto company Togacoin to its scam blacklist

The Italian securities regulator, Commissione Nazionale per le Società e la Borsa (CONSOB), has added crypto company Togacoin to its scam blacklist on Jan. 28.

The regulator released its warning against Togacoin alongside similar warnings concerning binary options company Smart Choice Zone and forex exchange Fx Breeze. The three firms have been added to the CONSOB’s warning list because of failing to obtain authorization to operate in Italy.

Togacoin’s website features a “Revenue Calculator” that promises a return of 239% in one year, a 654% return in three years and a 33-page white paper. The website also outlines the company’s plans to become part of “a new generation of mining operations, which is climate-friendly, less subject to the fluctuations of energy price and, finally, more profitable and safe.“

Also read: Belarusbank, the largest bank in Belarus, is considering setting up a crypto exchange

Source: https://cointelegraph.com/news/italian-securities-regulator-consob-adds-crypto-company-togacoin-to-scam-blacklist