French regulator AMF blacklists only two crypto websites in the whole year

Published at: Dec. 21, 2022

Financial regulators in France continue flagging illicit players on the foreign exchange (forex) and cryptocurrency markets, blacklisting a fresh batch of related websites.

The French stock markets regulator, the Autorité des Marchés Financiers (AMF), and the Prudential Supervision and Resolution Authority (ACPR), on Dec. 21, updated a blacklist of websites identified as unauthorized investments in forex and crypto assets.

Out of the 15 newly-blacklisted websites, only two sites imply a direct connection with crypto in their name. These websites include 24cryptoforextrading.net and cryptoneyx.io.

According to the announcement, the AMF and ACPR have flagged significantly fewer crypto-related websites year-over-year. In 2022, the authorities blacklisted a total of two websites in the crypto derivatives category, down 92% from 24 sites last year.

In contrast, the regulators added a total of 49 names to the list of sites that are not authorized to offer forex investments, versus 61 of such websites in 2021.

The AMF and ACPR urged investors to be careful and ensure that intermediaries offering financial products or services are authorized to operate in France. The regulators noted that investors should consult with the official register of authorized investment service providers and the list of authorized intermediaries in the financial investment advisor or crowdfunding categories.

A significant decrease in the amount of crypto-related websites flagged by the AMF in 2022 may apparently be attributed to the ongoing cryptocurrency winter. Since 2021, the cryptocurrency market has shrunk 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 oblige crypto platforms to obtain licenses

As previously reported, the French government is known for its friendly stance on the digital asset industry, issuing multiple approvals to major global cryptocurrency firms. In May, the AMF issued registration to major global crypto exchange Binance, officially allowing the firm to provide crypto-related services in France.

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