Jai Sahu
The Autorité des Marchés Financiers (AMF) in France has issued a warning about BITGET, noting it offers digital finance services without proper authorization. The AMF updates a blacklist with entities offering unauthorized investment services in France.
French Financial Regulator To Blacklist BITGET for Unauthorized Crypto Services
[Mise en garde] L’AMF rappelle au public que la plateforme de #trading de #cryptoactifs BITGET est inscrite sur liste noire : elle n’est pas autorisée à fournir des services sur actifs numériques en France.
Pour en savoir plus➡️https://t.co/5WM4EcmBKw#Crypto #Protection #Epargne pic.twitter.com/sJah2ve1YN— AMF (@AMF_actu) April 2, 2024
On April 2, the AMF identified BITGET in a circular about the oversight of virtual assets for offering crypto investments without authorization. The company has been providing investment products without approval, prompting the AMF and the ACPR to blacklist BITGET to protect investors.
Registration as a digital asset service provider is mandatory in France for certain digital asset activities. Compliance with this registration is essential for preventing money laundering and protecting investors. BITGET, lacking this registration, has been operating unauthorized services in France, leading to its blacklisting since November 7, 2023.
The AMF is prepared to take legal action to block BITGET’s website and other platforms offering unauthorized digital asset services in France. Investors are encouraged to consult the list of authorized providers for safer investments.
French Financial Regulator Expands Blacklist to Include Unauthorized Sites Offering Various Investments
The AMF’s blacklist, established in 2017 and originally focusing on sites offering diamond investments, now encompasses over 400 addresses offering unauthorized investments in various sectors. The list, which is regularly updated, may not be exhaustive as new unauthorized actors emerge.
In a recent update, the AMF emphasized the need for investment service providers to understand the specifics of temporary ownership dismemberment in SCPI units, underlining its commitment to investor protection.