On May 6, 2024, the French Financial Markets Authority (AMF) issued a warning list targeting websites illegally providing crypto-asset services within the country, exposing several unauthorized investment platforms including capstellar.com, exchangesage.com, and gateusd.com.
This action aims to remind investors to prioritize verifying a platform’s compliance before trading in the crypto market to mitigate potential risks.
As an independent financial regulatory authority in France, the AMF’s core mission includes ensuring the safety of investor funds, maintaining market transparency, and regularly updating the list of illegal financial service providers.
The websites announced this time have not obtained the “Digital Asset Service Provider” (DASP) qualification issued by the AMF and are legally prohibited from operating related businesses within France.
Although regulatory bodies continuously expand the blacklist, due to the rapidly changing dynamics of the crypto industry, new platforms may emerge at any time. Therefore, investors should regularly consult the “Unauthorized Entities List” and the “Authorized Whitelist” published on the AMF’s official website as a reference before trading.
To strengthen investor protection, the European Union will implement the Markets in Crypto-Assets Regulation (MiCA) starting December 30, 2024, requiring all crypto service providers to be officially authorized to operate.
The French AMF has also launched the MiCA authorization application process, and existing operators are required to complete compliance adjustments by June 30, 2026.
This regulation not only raises the market entry barrier but also reduces cross-border transaction risks through unified standards, reflecting a global trend towards stricter regulation.
The AMF specifically emphasizes that even when choosing registered whitelist platforms, crypto assets are inherently a high-risk investment category. Investors should avoid blindly trusting promises of high returns and should thoroughly evaluate the platform’s background, terms of service, and liquidity risks.
If suspicious activities are discovered, they can be reported through the AMF’s “Epargne Info-service” reporting system to jointly maintain market order.
In the complex digital financial environment, choosing a credible partner is crucial.
Cashback Island is committed to providing transparent and secure consumer feedback services, ensuring that user rights are protected by collaborating with legitimate brokers.
To explore more offers and protection information, please visit the Cashback Island official website.
