France’s
Financial Markets Authority (AMF) has expanded its blacklist of unauthorized
cryptocurrency service providers, adding 25 new websites to its watchlist since
June 11. The move comes as part of the regulator’s ongoing efforts to protect
investors from potentially fraudulent digital asset schemes.
French Financial Watchdog
Expands Crypto Blacklist, Warns Investors
The AMF,
which oversees France’s financial markets, regularly updates its list of
websites illegally offering digital asset services and fundraising through
initial coin offerings (ICOs) in the country. The latest additions bring the
total number of blacklisted crypto-related sites to over 100.
Among the
newly identified unauthorized platforms are: amzingnewdl.top, ascendex.com,
bitcoineprex.ai, bitsacard.com, btceprex360.com, cryptoinnovatebot.net,
cryptotrader.app, fin-maga.com, infosplacements.fr, immediate-genesis.com,
immediateavita.com, immediatedexair.net, immediateproair.app, immediateproair.com,
immediateproair.net, paulwchow.com, quantumbumex.co, quantumbumex.com,
sandiegobraincare.com, smartinvestsas.com, tradeduac100.com, tradeduac.com,
tradeduacai.com, tradeneupro100.com, and veltrix-ai.com.
The AMF
warns that these sites are not registered to provide digital asset services in
France. The regulator also emphasizes that its blacklist, while regularly
updated, cannot be exhaustive due to the rapid emergence of new unauthorized
actors in the crypto market. Investors are advised to consult the AMF’s website
for the most current information on both unauthorized and authorized digital
asset service providers.
In addition
to the blacklist, the
AMF maintains a whitelist of registered digital asset service providers
authorized to operate in France. However, the AMF cautions that even approved crypto
projects remain high-risk investments by nature.
In the
first half of 2024, the French market watchdog blacklisted
24 FX and 26 crypto trading platforms.
Crypto-Asset Service
Provider Applications Ahead of MiCA
The
European Union is set to implement new regulations for crypto-asset service
providers starting December 30, 2024. This legislation, known as the Markets in
Crypto-Assets (MiCA) Regulation , will require all entities offering
crypto-related services within the EU to obtain official authorization before
operating.
In France,
the AMF has begun accepting applications for this authorization as of August
2024. The new MiCA framework will supersede France’s current PACTE regime for
newcomers to the market from December 30, 2024.
Existing
service providers operating under France’s current regulatory system, which
includes “simple” or “enhanced” registrations and optional
Digital Asset Service Provider (DASP) authorizations, will have an extended
period until June 30, 2026, to secure MiCA authorization. This grace period
allows these entities to continue their operations until July 1, 2026.
It’s
important to note that during this transition phase, providers with existing
French registrations or authorizations will not have access to the European
passport system. Consequently, they will need to ensure compliance with
individual Member State regulations when offering services outside of France
during this interim period.
France’s
Financial Markets Authority (AMF) has expanded its blacklist of unauthorized
cryptocurrency service providers, adding 25 new websites to its watchlist since
June 11. The move comes as part of the regulator’s ongoing efforts to protect
investors from potentially fraudulent digital asset schemes.
French Financial Watchdog
Expands Crypto Blacklist, Warns Investors
The AMF,
which oversees France’s financial markets, regularly updates its list of
websites illegally offering digital asset services and fundraising through
initial coin offerings (ICOs) in the country. The latest additions bring the
total number of blacklisted crypto-related sites to over 100.
Among the
newly identified unauthorized platforms are: amzingnewdl.top, ascendex.com,
bitcoineprex.ai, bitsacard.com, btceprex360.com, cryptoinnovatebot.net,
cryptotrader.app, fin-maga.com, infosplacements.fr, immediate-genesis.com,
immediateavita.com, immediatedexair.net, immediateproair.app, immediateproair.com,
immediateproair.net, paulwchow.com, quantumbumex.co, quantumbumex.com,
sandiegobraincare.com, smartinvestsas.com, tradeduac100.com, tradeduac.com,
tradeduacai.com, tradeneupro100.com, and veltrix-ai.com.
The AMF
warns that these sites are not registered to provide digital asset services in
France. The regulator also emphasizes that its blacklist, while regularly
updated, cannot be exhaustive due to the rapid emergence of new unauthorized
actors in the crypto market. Investors are advised to consult the AMF’s website
for the most current information on both unauthorized and authorized digital
asset service providers.
In addition
to the blacklist, the
AMF maintains a whitelist of registered digital asset service providers
authorized to operate in France. However, the AMF cautions that even approved crypto
projects remain high-risk investments by nature.
In the
first half of 2024, the French market watchdog blacklisted
24 FX and 26 crypto trading platforms.
Crypto-Asset Service
Provider Applications Ahead of MiCA
The
European Union is set to implement new regulations for crypto-asset service
providers starting December 30, 2024. This legislation, known as the Markets in
Crypto-Assets (MiCA) Regulation , will require all entities offering
crypto-related services within the EU to obtain official authorization before
operating.
In France,
the AMF has begun accepting applications for this authorization as of August
2024. The new MiCA framework will supersede France’s current PACTE regime for
newcomers to the market from December 30, 2024.
Existing
service providers operating under France’s current regulatory system, which
includes “simple” or “enhanced” registrations and optional
Digital Asset Service Provider (DASP) authorizations, will have an extended
period until June 30, 2026, to secure MiCA authorization. This grace period
allows these entities to continue their operations until July 1, 2026.
It’s
important to note that during this transition phase, providers with existing
French registrations or authorizations will not have access to the European
passport system. Consequently, they will need to ensure compliance with
individual Member State regulations when offering services outside of France
during this interim period.
This post is originally published on FINANCEMAGNATES.
