Another event in the virtual currency sector has been creating headlines. Well-known French stock market regulator, Autorite Des Marches Financiers, that is, AMF has announced that it has blacklisted 21 websites of virtual currency and several other websites related to assets of virtual currency. AMF has put several of these under the category of “unauthorized websites”. It has also stated that these websites are promoting “investments” which are not favorable for the market. AMF has also given a reminder to the users and investors of cryptocurrency that no matter how well they are doing in the market, a lot of risks are always involved even as one expects more returns.
Another giant from Belgium, Financial Services and Markets Authority has also added various new sites in its blacklist. 28 new sites were added to the blacklist of FSMA. It has also repeated its warnings about being aware of the frauds in the virtual currency sector and that it is not a completely safe space.
Moreover, AMF now has the power to grant licenses to the various Initial Coin Offerings. It is being expected that this new framework will be of support in enhancing the operations of Initial Coin Offerings in the country. Needless to mention, the sector has had several investors who had to face a lot of risks due to the features of Initial Coin Offerings, it is for this reason that AMF has put a new set of rules in place to see to it that any chances of loss can be evaded. This new law dictates that the issuer of the ICO should provide information regarding himself.
It can be believed that with AMF and its new set of regulations, the extent to which the risk factor threatened the investors can be fought against. This will, in turn, lead to a better image and reputation of the sector at large.