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FRANCE: CRYPTOINVESTMENTS FEAR FINANCIAL MARKET SUPERVISION

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The French Financial Market Authority has issued a new list of non-licensed atypical investments. 50% of the providers have now disappeared.

Investment opportunities never happen in a legal vacuum. Each investment promising a yield must follow the legal basic conditions of the respective country. To the surprise of many investors, this applies also to cryptocurrencies. Trading facilities with fixed or variable interest rates as well as crypto mining as an investment are subject to approval.

In its report dated 26 September 2018, the French Financial Market Authority (AMF) published a list of new atypical financial market products that do not have the necessary licensing:

– www.achat-bitcoin.co
– www.acheterdubitcoin.com
– www.adg-placement.com
– www.bitnexx.tech
– www.buy-bitcoin-pagedemo.co
– www.cryptofrance.info
– www.cryptos-maker.com
– www.eminage.com
– www.goodcoin.fr
– www.infoscrypto.com
– www.investirvin.info
– www.lesgrandscrus.net
– www.netcoinplace.com
– www.patrimoine-vin.com
– www.prestige-vin.com
– www.rachatbitcoin.com
– www.sti-metal.com
– www.toutsurlebitcoin.com
– www.versatiscoin.com
– www.vino-capital.com
– www.vinsimo.com

Two-thirds of these investments are based on cryptocurrencies, which shows how big the issue of Bitcoin and Co. has become in this area. Are all these investments fraudulent? Probably not. But it is already characteristic that four days after publication of the list more than half of the cryptocurrency investments are no longer attainable over their web page.

Investors must, therefore, research whether a particularly promising investment has actually been approved by the regulators. If the operators claim that this is not necessary in their case, the highest caution is required. The financial market supervisory authority in your country can provide information on this.

 

 

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