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Four cryptocurrency websites blacklisted by French financial authorities to provide unauthorized offers
AMF-The Financial Markets Regulator, which is also the agency responsible for regulating the stock market in France, has announced that it is officially blacklist of four websites that deal with cryptocurrencies. The reason given by the authorities was that the sites were involved in offering investment options that had not been authorized.
Official AMF declaration
In a statement released on Friday 14th In December 2018, AMF said it had noticed that there were a total of nine companies operating without all the required documentation. The aforementioned companies did not obtain the approval of the regulators to authorize them to operate in the country.
The four cryptocurrency firms they were also on the list released by the AMF. In issuing the statement, the regulator warned investors not to invest in companies that they did not know well. The regulator then claimed to have recently noticed a surge in the total number of projects that had not yet received official approval.
It was also noted that once in a while new actors appeared, so the need to exercise caution to ensure that no one was invested in a company that was not adequately controlled.
Blacklisted companies
The list of companies included in the blacklist websites like live-crypto.com.net, elos-patrimoine.com, infoconso.info and iminage.com. According to the information available on the elos-patrimoine.com website, the website claimed to provide investments in cryptocurrency that were completely free of any type of risk.
He also promised to provide his investors with professional support based on their many years of participation in various investment options. The company tried to present its operations to the public by claiming that it had been operating throughout Europe for many years and had a fifteen-year experience behind it.
The website elos-patrimoine.com He went on to say that he would guarantee all his investors a monthly return of between three and five percent of their total investment. Some of the other sites that were blacklisted by the French Stock Market Regulator included four companies operating in the wine sector.
Another company claimed to facilitate investment in the diamond market segment. It is important to note that AMF operates as an independent institution intended to protect the interests of the public.
Its role is to ensure that it maintains order in the financial markets while ensuring that investors are not exploited by scammers and unscrupulous companies. Last month (November 2018), the AMF took part in a reciprocal initiative with the central bank of the country that aimed to raise awareness and warn the general population about the various risks involved in investments in the universe of cryptocurrency.
The message to the public was that digital resources tend to be very speculative, hence the need to be cautious before making any investment. The agency had previously published another report informing the public that the ICO segment in the country was rather small compared to that of the global market.
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