Cryptocurrency, Featured

France’s Stock Market Regulator AMF Bans 21 Cryptocurrency Investment Sites

The Autorité des marchés financiers (AMF), which is a popular stock market regulator in France, has blacklisted several websites related to cryptocurrency investments. The recent announcement of AMF claims that it has banned altogether 21 unauthorized websites that were providing atypical investments in the world of digital currency.

All the websites were offering “unauthorized” activities related to cryptocurrencies – ICOs, trading and mining. Here the agency isn’t going to stop. It will continue adding more names of websites to the growing list. AMF, which is responsible for protecting investments in financial instruments, had added 15 websites in last March to its list including those linked to cryptocurrency and crypto-assets. It has also released official warnings to the consumers regarding the risks behind making investments in cryptocurrency, mainly when their websites show significant risk factors and sketchy backgrounds.

Another reminder from the stock market regulator to the cryptocurrency investors states that a plenty of risks are always involved no matter how beautiful they are performing in the digital currency market. Apart from this, it has been a big month for AMF as the organization received the legal authority to grant its own licenses to the companies that run Initial Coin Offerings (ICO), as reported by Cointelegraph. The new set of legal rules is expected to flourish investment economy and lure more investors from various countries to come to France, invest and boost cryptocurrency eco-system. The nation’s finance minister, Bruno Le Maire believes the new legal framework for ICO will pave the way for more foreign investors to look into investing in France.

As far as the new rules are concerned, prior to the issuing of any token, a company should apply to the independent public body AMF for receiving a license. The company should also provide detailed information to the agency related to the offer and issuer.

The France-based popular stock market regulator is not playing the lead role in blacklisting or debarring the cryptocurrency websites considering the future of the consumers and economy. Belgium-based financial regulatory agency titled Financial Services and Markets Authority has also recently banned 28 websites concerning the issue crypto fraud, Bitcoin Exchange Guide noted.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Having over 11 years of experience in Journalism, Subhro has become fascinated by cryptocurrency over the last couple of years.

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