The Autorité des Marchés Financiers (AMF) is France stock market regulator, an independent public body responsible for safeguarding investments in financial instruments and other savings as well as maintaining orderly financial markets.
The AMF on thursday has given warning regarding cryptocurrency platforms that have been blacklisted by the agency. And also advised French citizens to stay off clear as these companies keep marketing to the French public despite the agency’s warnings.
Along with the warning, the agency published a list of 15 cryptocurrency companies, which, it says, are “unauthorized companies proposing atypical investments without being authorized to do so.” Examples of such investments are “Diamonds, rare earths, wine or ‘crypto assets,’” the AMF wrote.
Here are the 15 unauthorized investments platforms AMF is warning French citizens to avoid. They are akj-crypto, bank-crypto, bcoin-bank, bit-crypto, boursebitcoin, crypteo, cryptobankweb, crypto-major, cryptopartnersinvest, crypto2.bnd-group, crypto.private-finances, ecs-solutions, ether-invest, krak.
The AMF also reminds investors of various safety guidelines before investing. “No advertising materials should make you overlook the fact that high returns always involve high risk,” the regulator began, adding that investors should: also find out “how, and by whom, the purchase price or selling price of the advertised product is set, and find out the precise terms and timeline for selling the product, especially in cases where the product invests in an asset class with low liquidity.”
In other words, French citizens should be wise as dove and cautious like the serpent. You can subscribe to our newsletter below for more crypto news.