On September 26, the AMF (Autorite des Marches Financiers), the French regulator, announced the blacklisting of 21 new investment sites, including several sites related to cryptocurrency.

The authority denotes new additions as unauthorized sites that offer atypical investments and forward users to the existing non-exhaustive blacklist.

Around 21 Crypto-Asset And Cryptocurrency Websites Blacklisted By French Stock Market Watchdog
Around 21 Crypto-Asset And Cryptocurrency Websites Blacklisted By French Stock Market Watchdog

In March, AMF added 15 websites including those related to cryptocurrency assets to the blacklist, reminding consumers that no advertising material should make you forget that high returns are always accompanied by high risks.

The Cointelegraph announced this month a similar decision by the Belgian Financial Services and Markets Authority (FSMA), which is adding 28 new sites to its blacklist of cryptocurrency frauds and repeating its warnings to consumers about fraudulent players.

France’s AMF has received new legal powers this month to grant licenses to companies that manage ICOs. Bruno Le Maire, the country’s finance minister, expressed the hope that the legal framework of the ICO in France would attract investors from around the world.”

Under the new rules, a company must request authorization from the Authority prior to the issuance of cards and provide detailed information on the offer and the issuer. The measures are intended to provide additional guarantees to ICOs, which AMF has previously considered a source of risk for investors.

SEC (Securities and Exchange Commission) has filed charges against 1pool Ltd, which is an international securities dealer known for offering Bitcoin that is funded on the basis of security swaps. This information was published by SEC. According to SEC, the case also includes 1pool Ltd, based in the Marshall Islands, which delivers cryptocurrency–based services and backs 1broker.com and Patrick Brunner, the firm’s Austria-based CEO. The complaint claims that the parties involved in the act breached the federal securities laws that are associated with security-based swaps funded with Bitcoin.

Yes, that’s correct. The French stock market regulator, the Autorité des Marchés Financiers (AMF), has blacklisted 21 new investment websites, including a number of sites related to cryptocurrencies. The AMF identifies the new additions as “unauthorized websites” offering “atypical investments” and directs users to its existing blacklist, which it notes is “not exhaustive.”

The websites on the blacklist include:

  • Digital Wealth
  • Bitcoin Movement
  • Bitcoin Code
  • Bitcoin Era
  • Bitcoin Trader
  • Crypto Profit
  • Crypto Robot
  • Crypto Technique
  • Pro Crypto Trader

The AMF has warned investors to avoid investing with these websites as they are likely to be fraudulent. The regulator also stated that it is identifying and blacklisting additional fraudulent websites.

The AMF has previously taken action against cryptocurrency-related websites. In March 2022, the regulator blacklisted 15 websites, several of which offered trading in binary options.

The actions of the AMF reflect the increasing concern regarding the potential for fraud in the cryptocurrency market. There have been a number of high-profile instances of cryptocurrency fraud in recent years, including the collapse of the BitConnect Ponzi scheme.

Aware of the dangers associated with investing in cryptocurrencies, investors should only do so with reputable companies. Additionally, they should be wary of any website that promises high returns with minimal to no risk.

If you are considering investing in cryptocurrencies, you should conduct an extensive investigation and only invest with reputable firms. Additionally, you should be aware of the inherent dangers and only invest money that you can afford to lose.

The AMF has warned investors to avoid investing with these websites as they are likely to be fraudulent. The regulator also stated that it is identifying and blacklisting additional fraudulent websites.

The AMF has previously taken action against cryptocurrency-related websites. In March 2022, the regulator blacklisted 15 websites, several of which offered trading in binary options.

The actions of the AMF reflect the increasing concern regarding the potential for fraud in the cryptocurrency market. There have been a number of high-profile instances of cryptocurrency fraud in recent years, including the collapse of the BitConnect Ponzi scheme.

Aware of the dangers associated with investing in cryptocurrencies, investors should only do so with reputable companies. Additionally, they should be wary of any website that promises high returns with minimal to no risk.

If you are considering investing in cryptocurrencies, you should conduct an extensive investigation and only invest with reputable firms. Additionally, you should be aware of the inherent dangers and only invest money that you can afford to lose.

Here are some suggestions for averting fraudulent cryptocurrency websites:

Do your homework. Before investing in any crypto-related website, you should conduct an investigation and verify its credentials. Verify that the company is by a reputable financial authority and that other investors have provided positive feedback.

Be skeptical of claims of significant returns. A website that promises high returns with minimal or no risk is likely fraudulent. Investing opportunities that are legitimate will always involve some degree of risk.

Invest solely in reputable companies. Invest only in companies that have a solid track record and are governed by a reputable financial regulator.

Utilize a safe wallet. When purchasing cryptocurrencies, it is essential to store them in a safe container. A secure wallet will safeguard your cryptocurrency from loss and theft.