French Stock Market Watchdog Blacklists 21 Cryptocurrency and Crypto-Asset Websites
French stock market regulator, the Autorite des Marches Financiers (AMF), announced it is blacklisting 21 new investment websites, including multiple crypto-related sites, September 26. The AMF characterizes the new additions as “unauthorized websites” that offer “atypical investments,” and directs users to its existing blacklist, which it notes is “not comprehensive.”
In March, the AMF had added 15 websites — including those related to crypto and crypto-assets — to its blacklist, reminding consumers that “no advertising materials should make you overlook the fact that high returns always involve high risk.”
It was reported thjs month on a similar move from Belgian watchdog, the Financial Services and Markets Authority (FSMA), which added 28 new sites to its crypto-specific fraud blacklist and reiterated its warnings to consumers about fraudulent actors in the space.
France’s AMF has just this month received new legal powers to grant licenses to companies that run Initial Coin Offerings (ICO). The country’s Finance Minister, Bruno Le Maire, said he hopes that the legal framework for ICOs in France will “attract investors from all over the world.”
Under the new rules, prior to any token issuances, a company must apply to the AMF for a license and provide the agency with detailed information pertaining to the offer and issuer. The measures are designed to provide additional guarantees for ICOs, which the AMF had previously considered to be rife with “risks” for investors.#France, #regulation, #crypto