France’s AMF issues warning against BITGET for unauthorized digital asset services.

The French Financial Markets Authority, the Autorité des Marchés Financiers (AMF), warned against BITGET, citing unauthorized digital asset services. The AMF regularly updates its black lists of new websites and entities “proposing typical investments to investors in France without being authorized.” 

According to the regulator, blockchain exchange Bitget has been offering investment products without being authorized to provide such crypto services. To protect investors from potentially fraudulent investments, AMF and the French Prudential Supervision and Resolution Authority (ACPR) added Bitget to the updated list of unauthorized investment providers to be blacklisted.

The monetary and financial code in France requires mandatory registration as a digital asset service provider (PSAN) for specific activities related to digital assets, such as custody services, buying or selling digital crypto assets, and operating digital asset trading platforms. This registration ensures compliance with regulations aimed at preventing money laundering and terrorism financing, as well as ensuring the integrity and competency of management and shareholders, thereby protecting the interests of investors.

MAS introduces new crypto regulations, including digital asset custody.

The Monetary Authority of Singapore (MAS) has introduced cryptocurrency-related amendments to the Payment Services Act, focusing on digital payment token (DPT) service providers. Alongside this, it has published guidelines for digital asset custody.

The Act has been expanded to regulate three types of additional services:

• Digital asset custody
• Payments or transfers involving tokens, even if the service provider does take possession of the DPTs
• Cross-border payments, regardless of whether the funds are within Singapore.

The announcement includes transitional arrangements for existing providers who need to become licensed. These providers must notify MAS within 30 days.

MAS also provided detailed guidelines concerning digital asset custody following a consultation and an outline of the pending rules last November.