French financial regulator adds 15 cryptocurrency investment websites to its blacklist
The Autorité des Marchés Financiers (AMF), a leading financial regulator in France, announced today that it has included 15 cryptocurrency and cryptoactive investment websites on its blacklist.
The agency will add the infringing platforms to its existing "liste noir" (blacklist), which already includes businesses that illegally offer investments in products such as diamonds, rare earth metals and wine.
The ad specified:
Companies in France that offer the purchase of rights to goods that promote the possibility of a return or its economic equivalent are subject to the regulation of diverse goods and, as such, their offer must have a registration number provided by the MFA.
The announcement continues to list the websites of fifteen companies that have been alerted by the regulator due to regulatory violations, but continue to operate. The majority of those listed are located in the United Kingdom.
Among them is AKJ Crypto, which claims to provide a variety of services ranging from asset storage to account management. Another, Crypteo, is a supposed cryptocurrency market.
The statement from the AMF warned investors that "no sales launch should make you forget that there are no high yields without high risks". He also advised them to carry out a necessary investigation on the investments they are considering and weigh the criteria used to establish the price of a product.
The regulator also said that investors should consider the means by which a product can be resold and the terms that may correspond to this.
"Do not invest in what you do not understand," warned the Authority.
This is not the first time that the AMF has been involved in the affairs of the cryptoactive industry. During the past month of February, it published a declaration in which it establishes that commercial platforms should not be allowed to commercialize electronic products derived from cryptocurrencies because they fall within the scope of the MiFID 2 and Sapin 2 laws, the last of which prohibits the publication of certain financial contracts.
Likewise, the Authority launched the Universal Node to the ICO Research Network (UNICORN) in October 2017. At that time, it described the program as a framework that would allow ICO issuers to develop their operations and guarantee protection. of possible investors.