French regulator AMF blacklisted just two crypto websites all year
#French #regulator #AMF #blacklisted #crypto #websites #year Welcome to InNewCL, here is the new story we have for you today:
Click Me To View Restricted Videos
Financial regulators in France continue to flag illegal players in the foreign exchange (forex) and cryptocurrency markets and blacklist a new batch of related websites.
France’s stock exchange regulator, the Autorité des Marchés Financiers (AMF), and the Prudential Supervision and Resolution Authority (ACPR) updated on December 21 a blacklist of websites identified as unauthorized investments in forex and crypto assets.
Of the 15 newly blacklisted sites, only two sites imply a direct association with crypto on their behalf. These websites include 24cryptoforextrading.net and cryptoneyx.io.
According to the announcement, the AMF and ACPR reported significantly fewer crypto-related websites year-over-year. In 2022, authorities blacklisted a total of two websites in the crypto derivatives category, down 92% from 24 websites last year.
In contrast, regulators added a total of 49 names to the list of sites not authorized to offer forex investments, up from 61 such sites in 2021.
The AMF and ACPR urged investors to be cautious and ensure intermediaries offering financial products or services are licensed to operate in France. Regulators indicated that investors should consult the official register of authorized investment service providers and the list of authorized intermediaries in the categories of financial investment adviser or crowdfunding.
A significant drop in the number of crypto-related websites reported by the AMF in 2022 can apparently be attributed to the ongoing cryptocurrency winter. Since 2021, the cryptocurrency market has shrunk by more than 70% since November 2021, causing massive losses for crypto investors.
The AMF press office did not immediately respond to Cointelegraph’s request for comment.
Related: France may require crypto platforms to obtain licenses
As previously reported, the French government is known for its friendly stance towards the digital asset industry, issuing multiple permits to major global cryptocurrency firms. In May, the AMF granted major global crypto exchange Binance a registration, officially allowing the company to offer crypto-related services in France.
