French regulator added 15 cryptocurrency sites to the “black list”
French financial markets regulator Autorite des Marches Financiers (AMF) has joined its Belgian counterparts and blacklisted 15 digital currency sites. According to the authorities, these sites publicly promote investment offers in a manner prohibited in the EU. There are already sites on the “black list” that illegally offer to invest in assets such as precious stones and rare earth metals.
“Companies offering in France to acquire ownership of goods that imply profit or economic equivalent are required to have a registration number provided by AMF,” the regulator said..
The list includes 15 sites whose owners were notified that they were violating the law, but despite this they continued to operate. Most of the sites are registered in the UK.
These include, for example, AKJ Crypto, which offers a wide range of services from asset holding to account management. Another site – Crypteo – is a cryptocurrency marketplace.
AMF also reminds investors that a high return on an instrument most often implies a high degree of risk..
“Don’t invest in what you don’t understand,” the regulator warns.
In February, the AMF said that cryptocurrency derivatives should not be advertised electronically, as this also violates EU directives prohibiting the promotion of certain financial contracts..
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