Bulgaria blocks access to websites of unregulated brokers

Bulgarian financial supervision, thanks to cooperation with the District Court, was given the opportunity to block access to selected websites. CFD brokers and binary options with registration outside the EU and operating without required permits have been targeted.

40 blocked brokers

The local district court sent an instruction to internet service providers operating in Bulgaria to block access to 40 websites. They all belong to CFD / binary options brokers who do not have licenses and permits to conduct their business in the European Union.

The full list of websites that have been blocked is located HERE. It is highly probable that this will not end and more entities will be added to the group of blocked sites.

Censorship an effective method of fighting fraudsters?

The very approach to action in the form of restricting access to services provided by unauthorized entities is nothing new. This idea has already been accepted and implemented in France 3 years ago. In Poland similar powers are to be obtained by the PFSA, as discussed in a separate article. In practice, this solution is not yet applied, but it seems that it is only a matter of time.