French Regulator Warns Against Unauthorized Crypto Services π¨
The French Financial Markets Authority (AMF) issued a warning about BITGET, a platform offering unauthorized digital asset services. Here’s what you need to know:
- The AMF regularly updates its blacklist of websites and entities providing investment services without proper authorization.
- BITGET was included in the updated list for offering crypto investments through unauthorized channels.
- Registration as a digital asset service provider is mandatory for specific activities related to digital assets to ensure compliance with regulations.
AMF Takes Legal Action Against Non-Compliant Platform π
Despite the requirements, Bitget failed to obtain the necessary registration in France, leading to its blacklisting by the AMF. Here’s what else you should know:
- The AMF has the authority to block websites like Bitget operating illegally in France.
- Investors are advised to check the list of authorized investment providers to ensure security.
- The AMF reserves the right to take legal measures against unauthorized platforms like BITGET.
Expansion of AMF’s Blacklist for Unauthorized Investments π
Since its inception in 2017, the AMF’s blacklist has grown to include a wide range of unauthorized investment opportunities. Here are the details:
- New names have been added to the list, such as sites offering atypical investments in “gold.”
- The list is regularly updated, but new unauthorized actors may emerge over time.
- Registration decisions from the AMF can be reviewed on its website for transparency.
AMF Encourages Compliance for Real Estate Investment Companies π
In a recent update, the AMF urged investment service providers to consider the specific nature of temporary ownership dismemberment when marketing real estate investment units. Here’s what was highlighted:
- Inspections revealed inadequate attention to temporary ownership dismemberment in providing investment services involving SCPI units.
- Compliance with regulations is crucial, and the AMF emphasized good practices for investor protection.
Hot Take: Stay Informed to Protect Your Investments π‘οΈ
Keeping up with the latest news and regulations regarding cryptocurrencies and investments is essential to safeguard your financial interests. Stay informed, stay safe! π
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