France blacklists 15 crypto exchanges, cryptocurrencies slightly up but keep weakening though

Posted 16 March, 2018

The market regulator Autorite des Marches Financiers (AMF) in France reported that 15 crypto platforms were added to the blacklist of the companies that illegally offer investment activities. With this news bitcoin and other cryptocurrencies slightly improved Friday morning.

Despite the short-term improvement this morning, bitcoin has generally backed to the downward track, changing hands on the Bitfinex at $8,183. Ethereum on this exchange is priced at $600.72.

On the Poloinex Ripple is recorded at $0.67210. Litecoin price is at some $161.

According to the AMF press-release, earlier 15 blacklisted companies already received notification about breaking the rules but kept operating. Notably, the majority of the platforms are headquartered in the UK.

“Companies in France offering the purchase of rights over goods promoting the possibility of a yield or its economic equivalent are subject to the regulation of diverse goods and as such their offer must have a registration provided by the AMF,” the regulator statement reads.

“Don't invest in that which you don't understand,” AMF warned investors.

For reference, this is the second time when the regulator interferes in crypto trading – this February it was made a notice that the platforms had no right to make electronic sales of cryptocurrency derivative products, as it might violate the MiFID 2 and Sapin 2 laws.

Meantime in South Korea, the spokesperson for the law enforcement bodies reported that three Seoul-based exchanges are being checked as their employees are suspected to steal clients’ data for bitcoin buying. After the raid, the police exempted transfer bills, phones, accounting documents and computer HDDs.

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