The French securities market regulator, the Autorité des Marchés Financiers (AMF), continues to monitor the cryptocurrency market to warn investors of unauthorized cryptocurrency services.

On October 1st, AMF updated its web portals identified as cryptocurrency and foreign exchange (forex) investments by unauthorized companies. The list includes four websites dedicated to crypto derivatives investing and 12 dedicated to forex.

According to the supervisory authority, the institutions listed offered investment products without being authorized to provide such services. To protect investors from potentially fraudulent investments, the AMF and the French Prudential Supervision and Settlement Authority (ACPR) regularly update their blacklists of unauthorized investment providers. However, these listings are “not intended to be exhaustive” as “new unauthorized entities frequently appear”.

The agency urgently recommends that investors monitor the list of approved investment providers via the online register of financial service providers and the approved list in the portfolio of financial investment advice or crowdfunding.

The AMF’s latest warning comes shortly after Paris-based derivatives fund manager Melanion Capital launched its Bitcoin (BTC) Exchange Traded Fund (ETF) challenge due to the sensitivities and politics currently surrounding Bitcoin and Bitcoin investments. “

Related: South Africa’s financial regulator warns of Binance

Global authorities have recently raised concerns about unregulated cryptocurrency investment services.

In mid-August, the Australian Securities and Investments Commission advised citizens to invest in cryptocurrencies only through financial institutions with an Australian financial services license. According to the Australian Competition and Consumer Commission, cryptocurrency fraud accounted for more than 50% of the losses suffered by Australian investors in the first six months of 2021.

Earlier this year, Bank of France Governor Francois Villeroy de Galhau urged Europe to prioritize crypto regulation as there is a risk that digital assets could challenge the country’s monetary sovereignty.