The Autorite des Marches Financiers (AMF), French stock market regulator declared a boycott on 21 new investment websites as well as various crypto-associated online sites.
The AMF categorizes the new addition as ‘unauthorized websites’ and defines ‘atypical investments’ and leads its users directly to its existing blacklist, which says it is ‘not comprehensive’.
Early this year, the AMF had listed 15 new websites to the list, also telling its customers that “no advertising materials should make you overlook the fact that high returns always involve high risk.”
Similar news on this matter also has been reported by news channels. Just this month, Belgian overseer the Financial Services and Markets Authority (FSMA) listed 28 new online channels to its crypto-specific scam blacklist and repeated its warnings to users about counterfeit actors in the sector.
This month, the AMF has gained more legal powers such as procuring licenses to companies who does ICOs. Bruno Le Maire, French Finance Minister commented on the process, hoping these authorized outlines for ICOs in the country will “attract investors from all over the world.”
According to new instructions, companies must apply to the AMF before taking any steps on token issuance. Companies also must specify to the organization the detailed information form relating to the issuer and the offer. The methods are designed to deliver further guarantees for ICOs, since the AMF formerly considered to be risky for investors.
Author: Berna Bayindir
Photo Credit: ShutterStock