French financial regulators continue to target illicit traders in the foreign exchange (forex) and cryptocurrency markets, and have blacklisted a new batch of related websites.
On Dec. 21, the Autorité des Marchés Financiers (AMF) and the Prudential Supervision and Resolution Authority (ACPR) updated a blacklist of websites identified as unauthorized investments in currencies and crypto assets.
Of the 15 new blacklisted websites, only two imply a direct connection to cryptocurrency on their behalf. These websites include 24cryptoforextrading.net and cryptoneyx.io.
According to the announcement, the AMF and ACPR have flagged significantly fewer cryptocurrency-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.
By contrast, regulators added a total of 49 names to the list of sites that are not allowed to offer currency investments, up from 61 such websites in 2021.
The AMF and the ACPR urged investors to be careful and ensure that intermediaries offering financial products or services are authorized to operate in France.. The regulators pointed out that investors should consult the official registry of authorized investment service providers and the list of authorized intermediaries in the categories of financial investment adviser or crowdfunding.
A significant decline in the number of cryptocurrency-related websites flagged by the AMF in 2022 can apparently be attributed to the ongoing cryptocurrency winter. Since November 2021, the cryptocurrency market has shrunk by more than 70%, causing massive losses for crypto investors.
The AMF press office did not immediately respond to Cointelegraph’s request for comment.
As previously reported, the French government is known for its friendly stance towards the digital asset industry, issuing multiple approvals to major global cryptocurrency firms. In May, the AMF issued the registration of major cryptocurrency exchange Binance, officially allowing the company to provide cryptocurrency-related services in France.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.
