BeInCrypto’s comprehensive Europe Crypto Roundup covers the latest news and trends shaping the continent’s crypto landscape. With reporters across key markets like Germany, France, and the UK, we provide in-depth insights into regulatory environment, adoption rates, and major industry events.
This week’s roundup highlights France AMF’s latest crypto blacklist, Bybit’s efforts to obtain a license in Austria, and other stories.
France’s AMF Warns Investors of 25 Crypto Projects to Avoid
The Autorité des Marchés Financiers (AMF) has flagged 25 new cryptocurrency projects that investors should avoid at all costs. Among them, 20 projects have been operating illegally in France, raising concerns about fraudulent activity.
Crypto scams have been surging globally in October, despite intensified efforts by regulators, including the SEC. French investors are particularly at risk, as unauthorized platforms offering crypto services or pre-launch token investments (ICOs) continue to proliferate.
The AMF’s latest blacklist includes names like Ascendex, Tradeduac, and Veltrix-ai, alongside several crypto bots. These entities are not authorized in France and may pose a significant risk to investors.
Read more: 15 Most Common Crypto Scams To Look Out For
To protect against crypto scams, investors should follow five key rules:
- Ensure the project complies with local regulations.
- Verify that the website, white paper, and team are publicly available.
- Confirm the project has a clear roadmap.
- Check for an active community recognized by industry experts.
- Be cautious of promises of quick, high returns.
Additionally, investors should consult the AMF’s list of approved crypto projects and ICOs authorized to operate in France.
Polish Politician Janusz Korwin-Mikke Becomes Bitcoin ATM Ambassador
Janusz Korwin-Mikke, a prominent Polish politician and publicist, has officially become the brand ambassador for Bitomat.com. Known for his advocacy of free markets and criticism of government-controlled money creation, Korwin-Mikke now plans to actively promote BTC.
Korwin-Mikke emphasizes Bitcoin as an independent form of money that can shield citizens from rising inflation, which has become a pressing issue in Poland. While the National Bank of Poland expects inflation to stabilize by the end of 2024, current levels remain high. The politician has long criticized inflation as a “hidden tax” that erodes savings and encourages speculation.
In his book “Taxes, or the Thing About Plunder,” Janusz Korwin-Mikke delves into the effects of inflation on the economy. He argues that inflation discourages savings, fuels speculation, and ultimately leads to financial instability.
Korwin-Mikke views inflation as a form of economic plunder, undermining the value of citizens’ savings and promoting unsustainable financial practices. His belief in Bitcoin as a decentralized alternative stems from his desire to combat these harmful effects and offer individuals greater financial independence from government-controlled monetary policies.
Bybit Pursues Crypto License in Austria to Expand Its Presence in Europe
Bybit has confirmed its pursuit of a regulatory license in Austria, signaling its commitment to expanding into key markets while ensuring compliance with local regulations. The exchange plans to launch operations in Austria once it secures approval from the authorities.
Currently unlicensed in Austria, Bybit is not yet offering services in the country but expects updates on its application in the coming weeks. In preparation, the company has already founded several subsidiaries in Vienna and is searching for a central office location.
Securing a MiCAR license in an EU country is crucial for Bybit’s strategy, as it will allow the exchange to operate across the entire EU market by 2025. Although obtaining a European-wide license may take some time, Bybit aims to enter the market alongside competitors, including Austria’s own Bitpanda, Europe’s leading cryptocurrency trading platform.
Read more: What Is Markets in Crypto-Assets (MiCA)?
With both Bybit and Bitpanda potentially headquartered in Vienna, Austria could become a central hub for crypto in Europe. says Georg Brameshuber from the Digital Asset Association Austria highlights the significance of this development, stating that Austria is positioning itself as an attractive location for international players in the crypto world.
Kriptown Launches Tokenization Platform for SMEs in France
France is advancing in the realm of tokenization with Kriptown’s new platform, offering opportunities for a broad range of investors. As crypto gains traction across Europe, Kriptown joins the headlines following Payium’s innovative savings account and VanEck’s new ETFs.
The French fintech, backed by €4.2 million in funding from prominent companies like BNP Paribas and Bpifrance, is preparing to launch Europe’s first tokenization-based stock market for small and medium-sized enterprises (SMEs). This platform aims to democratize stock market access, allowing both individual taxpayers and professional investors to acquire shares in SMEs.
The initiative will help SMEs raise equity capital to support their growth, while PEA-PME savings product holders will gain access to a wider selection of companies.
Kriptown’s platform also focuses on supporting key sectors such as reindustrialization and the energy transition, broadening the impact of its innovative financing model.
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