Italy’s stock market regulator, CONSOB, has temporarily suspended the local services of two cryptocurrency companies – Bitsurge Token and Project Crypto Green Earth – on the grounds of financial law violations. The measures will continue for a period of 90 days based on ruling from December 12, the regulator said on Monday.

The two entities have been deemed to offer unauthorized services and could be placed under permanent bans if CONSOB confirms the breaches after the three-month period. A CONSOB analysis shows that both Bitsurge Token and Project Crypto Green Earth are projects of the Costa Rica-based Avalon Life SA. The websites of the two firms and the parent company were still accessible as per a Cryptovest check at 17:00 UTC on Tuesday.

This article appeared first on Cryptovest

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