The AMF reminds the public that the cryptoasset trading platform BYBIT is blacklisted
The information in this press release is no longer up to date.
The Autorité des Marchés Financiers (AMF) is calling on retail investors to exercise the utmost vigilance with regard proposal investments made to the public residing in France by the digital asset trading platform BYBIT. BYBIT is not authorised to provide its digital asset services in France. The AMF reserves the right to take legal action to block the platform's website.
The digital asset trading platform BYBIT has been blacklisted by the AMF since 20 May 2022 for non-compliance with current French regulations.
Under the Monetary and Financial Code, the provision of digital asset custody services on behalf of third parties, services to purchase or sell digital assets against legal tender, to trade digital assets for other digital assets and to operate a digital asset trading platform, when these are provided in France, are subject to prior mandatory registration as a digital asset service provider (DASP). This registration makes it possible to maintain public order though prevention of money laundering and terrorist financing, to verify the good repute and competence of its directors, or even to impose specific measures to protect retail investors.
Unregistered platforms providing these services in France are illegal under French law. BYBIT is not registered as a DASP.
The AMF reserves the right, under the terms of the Monetary and Financial Code, to take legal action to block the website of this platform, which is providing its services illegally in France.
In this regard, the AMF is urging French retail investors who have invested on this platform to take all necessary measures to avoid being unable to access their assets (digital assets or digital asset derivatives). All investors must make arrangements for the eventuality that the platform suddenly cease to provide services to the public residing in France.
In addition, the AMF reminds the existence of a white list of registered PSANs that can be consulted on its website, and the importance of referring to it before investing in crypto-assets.
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets. Visit our website https://www.amf-france.org/en
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