French Stock Regulator 'AMF' Bans 4 CryptoCurrency Related Websites.

French Stock Regulator 'AMF' Bans 4 CryptoCurrency Related Websites.

2018-12-16 | Eddy Morgan

French Stock Regulator 'AMF' Bans 4 CryptoCurrency Related Websites.

In line with a recent official 'announcement', the French stock watchdog, the Financial Markets Regulator 'AMF', has blacklisted 4 cryptocurrency related websites for unauthorized investment offerings.

The AMF report 'published' noted 9 firms that are allegedly operative without necessary regulative approval,  including four cryptocurrency related companies.

In the announcement, the regulator warned investors regarding the increasing range of unregistered investment projects, claiming that “new unauthorized actors seem often.”

The report published includes names of some renowned cryptocurrency website namely iminage.com, elos-patrimoine.com, infoconso.info, and live-crypto.com.net. Elos-patrimoine claims to provide “risk-free” cryptocurrency investments, promising “professional support” by a “long expertise altogether in several areas of investment.” Introducing itself as a “manager of European heritage for over fifteen years,” the company alleged to guarantee monthly min. returns of around 3 percent to 5 percent..

The other websites blacklisted by the AMF enclosed four businesses related to the wine business, and one web-site providing investments in diamonds.

The AMF is an independent public establishment that's chargeable for protecting investors and maintaining orderly monetary markets.

Earlier in November, the AMF participated in a very joint initiative with France’s Central Bank to warn the general public regarding the 'risks' related to the “speculative” nature of crypto assets.

Even in November, the AMF revealed a report claiming that the ICOs [initial coin] business within the country represents a tiny part of the general  global ICO market. As per the study, the global ICO market accumulated around $21.8 Bln since 2014, whereby France accounted for $100 Mln raised in fifteen different ICO projects.

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