French financial regulators have observed an increase in complaints regarding cryptocurrencies this year.
Investors in the country are increasingly filing complaints about digital currencies with France's Financial Markets Authority since January 2019, according to the AMF's 2019 Risk Map report published on July 2.Percentage of claims to AMF regarding crypto assets.
At the same time, 2019 has reportedly seen a drop in the number of enquiries received by the AMF's consumer contact center in regard to digital currency.
The document further notes that investors continue to express interest in speculative products like binary options, foreign exchange, contracts for difference and crypto, despite the AMF's efforts to limit the marketing of such products.
From 2016 to 2018, the AMF issued 118 warnings against crypto-related bad actors out of 154 warnings overall.
In its annual report released in May, the AMF noted a 14,000% surge in enquiries related to fraudulent cryptocurrency offers in 2018 as opposed to 2016.
Specifically, the number of enquiries associated with crypto-related scams online surged to over 2,600 in 2018 from only 18 similar enquiries back in 2016.
A survey from Tokyo-based crypto exchange bitFlyer published in April showed that the majority of Europeans believe that crypto will exist in 10 years, wherein French respondents were more pessimistic about the future of crypto, with only 55% claiming that they believe in crypto in the long term.
French Regulators Notice Uptick In Crypto-Related Complaints
Udgivet den Jul 3, 2019
by Cointele | Udgivet den Coinage
Coinage
Seneste nyheder
Se alt
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.