Consob the Italian stock exchange regulatory board halts the first ICO, ( initial currency offering). The ICO was launched by the English company, Togacoin Ltd, with the aim of financing the construction of a multi-activity data center, focused mainly on cryptocurrency mining, flanked by "secondary hosting activities, web application development and electricity sales, which will make it possible to differentiate investments ".

The Authority has a well-founded suspicion about the promotion of a public offer of financial products in violation of the laws and regulations on the matter ", and resolved for the suspension of offer for Italian Ressidents. Considering that the company's website and Ico's whitepaper are in Italian, Consob argued that the 'offer' is addressed to the Italian public "and" presents the characteristics of a public offer of financial products. "This, however, according to Italian Law, requires publication of the prospectus, subject to communication and approval by the Authority. But "in relation to the activity carried out by Togacoin Ltd - as stated in the Bulletin - the prior notification to Consob has not been disclosed or the information prospectus for publication has never been sent.