• Tue, 23 Jul 2019, 05:18 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Cryptocurrency-related scam enquiries jump 14000% since 2016, says French regulator AMF

Wed, 08 May 2019, 10:15 am UTC

The Autorité des Marchés Financiers (AMF), the French stock markets regulator, has seen more than 14,000% spike in enquiries related to cryptocurrency scams in 2018 as compared to 2016, Cointelegraph reported.

The regulator published the details in its annual report released on Tuesday, May 07. According to the report, the number of enquiries related to fraudulent cryptocurrency schemes skyrocketed from 18 in 2016 to over 2,600 last year.

Since March 2018, the AMF said, it created a blacklist of unauthorized sites that offer investments in cryptocurrency derivatives. In total, it has warned the public against 154 actors or websites, of which 118 are associated with cryptocurrencies.

The AMF said that it has significantly contributed to the development of the legal framework for initial coin offerings (ICOs) and digital assets services providers (DASP), proposed in the PACTE Bill (Action Plan for Business Growth and Transformation).

The framework offers “optional licensing of trading platforms and other services providers of digital asset services, as well as that the authorization of specialized professional funds (FPS) to invest in crypto-assets,” it said (via online translation).

The PACTE draft Bill was adopted at its final reading in the French National Assembly on 11 April 2019. In a press release dated April 15, the AMF said:

“The PACTE draft Bill as definitively adopted by the French Parliament reinforces the AMF’s powers to provide better protection to investors.

“The AMF will have the powers to oversee the ICOs that have received its visa and to supervise licensed service providers. In the event of non-compliance with the rules, the AMF may hand down sanctions against ICO issuers and licensed service providers.”

The agency can also publish a blacklist of ICOs and DASPs who do not comply with the regulations, and can block access to fraudulent websites offering services in digital assets.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,251.10 (-3.26%)
  • Ethereum (ETH) $216.90 (-3.80%)
  • XRP (XRP) $0.319800 (-3.12%)
  • Litecoin (LTC) $94.23 (-4.73%)
  • Bitcoin Cash (BCH) $311.37 (-2.62%)
  • Bitcoin (BTC) $10,251.10 (-3.26%)
Jul 23, 2019 (Tuesday)
05:03
Crypto exchange QuickBit confirms major data leak, likely to affect 300K users
04:45
Uganda looks to blockchain in counterfeit drug battle
04:05
UK lawmaker who busted Facebook-Cambridge Analytica scandal sets sights on Libra crypto
03:47
Singapore-based Forise International expands to blockchain consulting
03:41
Mercedes-Benz' parent company Daimler partners with Riddle & Code to develop crypto hardware wallet for cars
03:26
Binance lists GBP-backed stablecoin 'BGBP'
Jul 22, 2019 (Monday)
12:20
Crypto Technicals: IOT/USD recovery fails shy of 200-DMA, downside resumption likely
12:20
Former Token Foundry head begins process to sue Joseph Lubin for $13M
11:39
Blockchain firm R3 pushes for more Corda sales with new hire
11:26
South Korean citizen unaffiliated to Samsung files trademark application for 'Samsung Coin'
10:46
Former Russian crypto executive arrested in Italy
09:19
Blockchain startup Diana to launch 'lunar registry' to divide and tokenize the moon
08:39
Crypto Technicals: ETC/USD confirms 'Golden Cross' on hourly charts, eyes 21-EMA at 6.722
07:46
Iran finalizes power tariff scheme for crypto miners but no license for importing mining equipment yet
07:42
Crypto firm FairX closes digital doors due to lack of funding
06:34
Thailand shows less hostility towards Libra compared to other countries
06:23
European Central Bank official says calm down about stablecoin
05:42
No official ban on cryptocurrency yet, Indian Minister clarifies
05:16
Electric firm E.ON applies patent for blockchain-based data collector device
05:02
Accounting giant KPMG partners with Microsoft, TOMIA, and R3 for blockchain-based telecom solutions
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft