Two cryptosites were blacklisted by French regulator
2022.12.21 07:49
Two cryptosites were blacklisted by French regulator
Budrigannews.com – France’s financial regulators have added a new batch of related websites to their blacklist of suspected criminals operating on the foreign exchange (forex) and cryptocurrency markets.
On December 21, the Autorité des Marchés Financiers (AMF) and the Prudential Supervision and Resolution Authority (ACPR), the French regulators of the stock market, updated a blacklist of websites that were found to be making unauthorized investments in crypto assets and forex.
Only two of the 15 newly blacklisted websites explicitly mention cryptocurrency in their names. 24cryptoforextrading.net and cryptoneyx.io are two examples of these websites.
The announcement says that the AMF and ACPR have flagged significantly fewer cryptocurrency-related websites this year than last. In the crypto derivatives category, the authorities blacklisted two websites in 2022, a 92% decrease from the previous year’s 24 sites.
In contrast, in 2021, there were 61 such websites, but the regulators added 49 names to the list of websites that are not permitted to offer forex investments.
Investors were urged by the AMF and ACPR to exercise caution and verify that financial service providers licensed to operate in France. The official register of authorized investment service providers and the list of authorized intermediaries in the financial investment adviser or crowdfunding categories should be consulted by investors, according to the regulators.
It would appear that the ongoing cryptocurrency winter is to blame for a significant decrease in the number of websites related to cryptocurrency that the AMF flagged in 2022. The cryptocurrency market has decreased by more than 70% since November 2021, which has resulted in significant losses for crypto investors.
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As was previously reported, major global cryptocurrency companies have received multiple approvals from the French government, which is known for its welcoming attitude toward the digital asset industry. The major cryptocurrency exchange Binance received registration from the AMF in May, making it legal for the company to offer crypto-related services in France.
