Italy’s market regulator Consob fined Fabrizio Corona €200,000 for promoting the $CORONA meme coin without MiCAR-compliant disclosures or the required regulatory framework. The sanction was disclosed on January 26, 2026, following actions in March 2025 to halt the initiative and block related platforms. Consob said the proposal lacked the mandatory disclosures and legal structure required under MiCAR to protect investors. The promotion ran on Telegram and a dedicated website without a whitepaper and remained active for at least nine days before being blocked.
Consumer group Codacons flagged suspicious trading patterns surrounding the token launch, raising concerns of potential market manipulation. The move underscores MiCAR enforcement’s role in curbing unauthorized cryptocurrency promotions aimed at retail investors via social media.
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