The French stock market regulator Autorité des Marchés Financiers (AMF) continues to monitor the cryptocurrency market to warn investors about unauthorized crypto services.

On Friday, AMF updated its web portals to identify those who offer crypto and currency investments (forex) through unauthorized organizations. The list contains four websites related to investing in cryptocurrency derivatives, as well as 12 websites related to forex.

According to the regulator, listed persons offer investment products without having the authority to offer such services. To protect investors from potential fraudulent investments, AMF and the French regulatory authority (ACPR) regularly update the blacklist of unauthorized investment providers. However, these lists “do not claim to be complete” because “new unauthorized objects appear regularly.”

The Authority strongly encouraged investors to follow the list of approved investment service providers using the electronic register of financial service providers, in addition to the list of approved service providers in the financial investment advisers or crowdfunding categories.

The latest warning from AMF came shortly after Paris-based derivative fund manager Melignon Capital launched its bitcoin-traded fund (BTC) in August. Melanion CEO Jad Comer reportedly said receiving AMF approval was “a real challenge because of the delicacy and policies that currently surround investments in bitcoins and bitcoins.”

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Recently, global governments have increasingly expressed concern about unregulated crypto-investment services.

In mid-August, the Australian Securities and Investment Commission advised citizens to invest in cryptocurrencies only through financial institutions licensed to Australia’s financial services. Cryptocurrency fraud accounted for over 50% of Australian investors’ losses in the first six months of 2021, according to the Australian Competition and Consumer Protection Commission.

Earlier this year, the Governor of the Banco de France, François Villerois de Gallo, called on Europe to prioritize the regulation of cryptocurrencies because of the risk to digital assets, which called into question its monetary sovereignty.

Source: CoinTelegraph

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