Crypto

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

Financial regulators in France continue to flag illicit actors in the foreign exchange (forex) and cryptocurrency markets, blacklisting a new batch of related websites.

The Financial Markets Authority (AMF) and the Prudential Supervisory and Resolution Authority (ACPR), on December 21, update a blacklist of websites identified as unauthorized investments in forex and crypto assets.

Of the 15 newly blacklisted websites, only two sites imply a direct connection to crypto on their behalf. These websites include 24cryptoforextrading.net and cryptoneyx.io.

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

In contrast, regulators added a total of 49 names to the list of sites not allowed to offer forex investments, up from 61 such sites in 2021.

The AMF and the ACPR have urged investors to be cautious and to ensure that intermediaries offering financial products or services are authorized to operate in France. Regulators Noted that investors should consult with the official register of approved investment services providers and the list of approved intermediaries in the financial investment adviser or crowdfunding categories.

A significant decrease in the number of crypto-related websites reported by the AMF in 2022 can apparently be attributed to the current cryptocurrency winter. Since 2021, the cryptocurrency market has shrunk more than 70% since November 2021causing massive losses for crypto investors.

The AMF’s press service did not immediately respond to Cointelegraph’s request for comment.

Related: France could force crypto platforms to obtain licenses

As stated earlier, the French government is known for its friendly stance on the digital asset industry, issue several approvals to major global cryptocurrency companies. In May, the Registration issued by the AMF to leading global crypto exchange Binance, officially allowing the company to provide crypto-related services in France.