Investors Beware! The French Financial Markets Authority (AMF) has its sights set on BITGET, a digital asset platform operating illegally within the country.

BITGET has been offering crypto-related investments to French citizens without the required authorization, putting investors at potential risk. To protect its citizens, the AMF has blacklisted the platform since November 2023.

Why the Crackdown?

France, like many countries, has regulations in place to ensure the safety and security of digital asset investments. These regulations require platforms like BITGET to register as a Digital Asset Service Provider (PSAN) to operate legally.

PSAN registration ensures compliance with anti-money laundering and terrorism financing measures. It also verifies the competency of management and protects investor interests.

What This Means for You

BITGET has failed to comply with these critical regulations, leaving investors vulnerable. The AMF is prepared to take legal action, including blocking access to BITGET's website in France.

How to Protect Yourself

The AMF offers a list of authorized investment providers. Always verify a platform's legitimacy before investing your hard-earned money. Remember, if it seems too good to be true, it probably is.

France's Financial Watchdog Expands Its Net

This incident highlights the AMF's commitment to protecting French investors. The blacklist, originally created in 2017, has grown to include over 400 unauthorized websites offering dubious investments in everything from diamonds to livestock.

The AMF's message is clear: invest wisely and do your research. By staying informed and using the resources available, you can safeguard your financial future.