The Italian financial regulatory authority, the Commissione Nazionale per le Società e la Borsa (CONSOB), issued Resolution No. 23891 on February 25, 2026, concluding that Solaxy’s $SOLX token offering violates the EU’s Crypto Asset Market Regulation (MiCA). According to CONSOB, Solaxy offered $SOLX to the public in Italy but did not disclose a whitepaper as required by Article 8 of MiCA.
The agency demands an immediate halt to the SOLX offering in Italy and gives Solaxy 60 days to appeal to the Lazio Regional Administrative Court. CONSOB also included the case in its crackdown on financial fraud and stated that Italian authorities are working to block access to related websites.
The resolution states that the website solaxy.io provides instructions on purchasing tokens in Italian, targeting domestic investors. While the decision does not label Solaxy as a scam, CONSOB confirms that the project does not comply with the notification obligations under MiCA.
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