The French stock market regulator, The Autorite des Marches Financiers (AMF), announced in a press release that they have added 15 cryptocurrency and crypto-asset investment websites to a blacklist on March 15.
According to the press release, the companies listed ran afoul of the “Sapin II Law”, stating that:
“The investment proposals highlighting the possibility of financial returns or similar economic effects involve intermediation in miscellaneous assets and are now subject to ex ante control by the AMF. Consequently, no offer can be directly marketed in France without prior allocation by the AMF of a registration number.”
The press release then lists 15 offending companies, who continued to advertise and market their services as investment opportunities to the French public, despite new regulations. The blacklist also contains businesses that unlawfully offered investments in commodities like rare earth metals, wine, and diamonds.
The statement reminds consumers that “no advertising materials should make you overlook the fact that high returns always involve high risk.” […]