French Financial Regulator has Blacklisted Four Crypto Related Websites in the Country
In its bid to keep the French crypto industry safe from scammers, France number one financial market regulator— AMF, has issued a warning against patronising four cryptocurrency related websites. The regulator has also added these websites to its list of blacklisted crypto ventures.
The AMF and It’s Blacklist
The AMF made the blacklisting known via an official statement recently. The Regulator made it known that these four exchanges are conducting unauthorized investment offerings.
The regulator has added these four websites to its growing list of cryptocurrency firms that have been operating without approval from any financial authority. So far, the regulator has nine websites on its blacklist.
The AMF has also issued a warning aimed at alerting potential investors to the possible dangers associated with investing in any crypto related business or any online financial scheme.
The four cryptocurrency websites blacklisted by the AMF include elos-patrimoine.com. live-crypto.com.net, iminage.com, and infoconso.info.
According to the regulator, the country has seen a surge in the number of unauthorized crypto projects and other suspicious crypto projects. As a result of this, the public is also advised to report any suspicious activity involving a crypto related scam to the regulator.
One of the websites blacklisted, blacklisted—elos-patrimoine.com was “allegedly offering monthly returns to investors between 3% and 5% without the authorization to offers guarantees.”
The AMF will not Relent
The AMF has made it known that it will continue to carry its major role, which ensures that the interests of the public and investors are well protected.
A report summarising the role of the regulator stated that:
“They basically keep the French crypto markets honest and ensure that crypto-related businesses adhere to the nation’s crypto regulations and maintain order in the marketplace.”
The report continued that:
“The AMF and French government are working hand-in-hand to keep a lid on the ICO markets to ensure new ICOs are fulfilling their legal requirements. With the AMF now blacklisting unauthorized cryptocurrency websites, it sends out a message that although France welcomes crypto, it is also serious on keeping the sector under control.”
