Crypto “blacklist” compiled by France’s AMF continues to grow

Maria Nikolova

Five websites of entities that offer illegal services related to cryptoassets have been added to the “blacklist” in about a month.

France’s Financial Markets Authority (AMF) has earlier today informed the public that five more websites of entities whose activities are related to crypto-assets have been added to its “blacklist”. The websites have been added to the list in about a month, indicating that the fraudulent schemes involving crypto-assets are still active.

Three of the websites were added in May, with two more added in June:

  • www.bforfinance.com
  • www.coin-financial.com
  • www.gwt-capital.com
  • www.jbcapitals.com
  • www.xcoinbroker.com

France’s AMF has compiling its own “blacklist” of websites that offer investments in crypto-assets since March 2018. Overall, the French regulator has warned the public against more than 100 unregulated entities or websites whose activities relate to crypto-assets.

AMF’s Annual Report for 2018 has revealed the positive effects of the Sapin 2 law which tried to put an end to the marketing of toxic online trading products such as binary options and high-leverage CFDs, while highlighting concerns associated with the rise of crypto-assets. On the brighter side, the AMF has observed the positive effects of the introduction of the Sapin 2 law. In 2018, the number of advertisements dedicated to speculative products has fallen to 311. This compares to an annual average of 582 for the period from 2014 to 2016. Most (83%) of the ads for online trading products in 2018 were legal. Only 51 ads contravened the Sapin 2 law – they were issued by 9 entities “regulated” in Cyprus.

In 2018, 36% of the enquiries received by AMF’s consumer contact center Epargne Info Service center concerned criminal activities online. Whereas in 2016 fraudulent offers concerning investments in Forex and binary options triggered 3,768 enquiries, and those about crypto-assets triggered only 18 enquiries, in 2018, the trend was the opposite. Last year, 968 enquiries concerned FX and binary options, whereas over 2,600 enquiries concerned crypto-assets.

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

<