Italy's securities regulator, Consob, has fined Fabrizio Corona €200,000 for promoting the $CORONA memecoin without adhering to European crypto-asset regulations. The fine, announced on January 26, 2026, follows a March 2025 intervention that halted the initiative and blocked related platforms. Consob found that the offering lacked the necessary disclosures and legal structure required under the Markets in Crypto-Assets Regulation (MiCAR), raising concerns about investor protection. The $CORONA memecoin was promoted via Telegram and a dedicated website without a compliant White Paper, violating MiCAR rules. The offer was active for at least nine days before being blocked. Consumer group Codacons flagged suspicious trading patterns linked to the token's launch, alleging potential market manipulation. Consob's decision underscores the enforcement of MiCAR to curb unauthorized crypto promotions, particularly those targeting retail investors through social media.