AMF Warns Public: 23 Unauthorized Crypto Sites Added in 2026
France's financial markets regulator, the Autorité des marchés financiers (AMF), has published a fresh warning naming unauthorized operators offering crypto assets or crypto-asset services to the French public. Since January 2026 alone, the AMF has added 23 new names to its running blacklist of platforms that have no legal right to serve customers in France. If you've been using any crypto platform without checking its authorization status, now is the time to stop and check, because trading with an unlicensed provider doesn't just put your money at risk. It can create serious headaches for your crypto tax position too.
What the AMF Actually Said
The AMF's notice, published on 9 July 2026, is direct: multiple entities are illegally offering crypto assets or crypto-asset services in France, and the regulator wants the public to know about them. The announcement follows the AMF's established practice of maintaining a live blacklist, updated frequently, covering platforms that have never held a PSAN (Prestataire de Services sur Actifs Numériques) registration or the newer PSCA (Prestataire de Services sur Crypto-Actifs) licence required under the EU's MiCA framework, which France is progressively implementing.
The 23 new names since January 2026
The AMF has confirmed that 23 entities have been added to the unauthorized list since the start of 2026. The regulator is careful to note that the list is not exhaustive: new unlicensed or fraudulent actors appear regularly, and the blacklist is updated on a rolling basis rather than on a fixed schedule. The full, searchable list sits in the AMF's dedicated investor-protection section (Espace Épargnants) and is also mirrored on the Assurance Banque Épargne Infoservice (ABEIS) website under its fraud prevention section.
Why the list can never be complete
The regulator is explicit that appearing on the blacklist is a red flag, but not appearing on it is not a green light. Fraudulent platforms spin up and disappear faster than any authority can track them. The AMF's guidance is clear: always verify authorization status independently, using the official PSAN and PSCA registers on the AMF's website, before committing any funds.
How to Check Whether a Platform Is Authorized
The AMF provides two practical ways to verify a provider's status.
Online registers
The AMF maintains a live register of registered PSANs and licensed PSCAs on its website. Any entity offering crypto-asset services to French residents should appear there. If it doesn't, treat that as a firm reason not to proceed.
Direct contact with the regulator
The AMF also operates a consumer helpline, reachable on 01 53 45 62 00, Monday to Friday between 09:00 and 12:30, at a local call rate. Investors who are unsure about a specific platform can call and ask directly. The AMF Protect Epargne portal is a further resource for checking warnings and alerts.
Why This Matters for Your Crypto Tax Position
It's tempting to think that a regulatory blacklist is only a fraud-prevention issue and has nothing to do with your tax obligations. That's not quite right, and here's why it matters to anyone trying to calculate crypto taxes correctly or prepare a crypto tax report for the French authorities.
Gains from unlicensed platforms are still taxable
French tax law does not grant an exemption from capital gains tax simply because a platform was unauthorized. If you bought and sold crypto assets through an unlicensed provider and made a profit, the Direction Générale des Finances Publiques (DGFiP) still expects that gain to be declared. The flat tax (Prélèvement Forfaitaire Unique, or PFU) of 30% applies to net gains from the disposal of digital assets held by French tax residents, regardless of where or how the trade was executed.
Record-keeping becomes harder and riskier
Authorized providers operating under PSAN or PSCA rules are required to maintain proper transaction records, apply know-your-customer (KYC) procedures, and cooperate with tax and regulatory inquiries. Unlicensed platforms have none of those obligations, and many disappear overnight. That leaves you holding incomplete records and potentially unable to demonstrate your cost basis when you need a crypto capital gains calculator to produce accurate figures. Gaps in your records can lead to inflated tax assessments, since without proof of what you paid, the DGFiP may assess the full sale proceeds as gain.
Potential AML scrutiny
Transactions routed through unauthorized platforms can attract additional scrutiny from France's anti-money laundering framework. Even if you were a legitimate investor who had no idea the platform was unlicensed, unexplained flows through flagged entities can trigger questions from financial institutions or, in serious cases, from Tracfin, France's financial intelligence unit. Being able to document everything cleanly matters enormously in that scenario.
Practical Steps for Individual Investors
Check your existing platforms now
Open the AMF's PSAN and PSCA registers and cross-reference every platform you currently use. If you spot a match with the unauthorized list, or if a platform simply doesn't appear in the authorized registers, stop adding funds and consider how to exit safely while preserving your transaction history.
Download and back up your transaction data
Whether or not a platform turns out to be unauthorized, always export your full transaction history in a machine-readable format (CSV, JSON, or a similar standard). This data is what feeds a crypto tax calculator and forms the backbone of any accurate crypto tax report. If an unlicensed platform vanishes, that data goes with it.
Reconstruct what you can
If you've already used a platform that the AMF has flagged, gather whatever evidence you have: screenshots, email confirmations, bank transfer records showing the amounts you deposited and withdrew. A tax professional can help you reconstruct a defensible cost-basis position from imperfect records, but the more you have, the better.
File accurately even for past years
French tax residents are required to report all crypto disposals, including those made through foreign or unlicensed platforms, on their annual income tax return. If you realize you've missed disposals in prior years, a voluntary correction is always preferable to waiting for the DGFiP to identify the gap. The statute of limitations for tax assessments in France is generally three years, but can extend further in cases involving fraud or undisclosed foreign accounts.
The Bigger Regulatory Picture in France
This latest warning is part of a broader, sustained campaign by the AMF to clean up the French crypto market as MiCA fully takes hold across the EU. Earlier in 2026, the regulator had already flagged a significant number of unauthorized platforms, a story we covered in detail when the AMF blacklisted 38 unauthorized crypto platforms in France. The pace of additions to the blacklist suggests the AMF is not slowing down, and the introduction of the PSCA licensing regime means the bar for operating legally in France has risen. Platforms that previously relied on basic PSAN registration may need to upgrade to full MiCA-compliant authorizations, and those that don't will likely find themselves named in future AMF notices.
For anyone who wants to understand how to file crypto taxes and stay on the right side of French regulators, the starting point is always the same: use only authorized providers, keep complete records, and treat every disposal as a taxable event until the law says otherwise.
Frequently Asked Questions
Does trading on an unauthorized platform mean my gains are not taxable?
No. French tax law taxes gains from crypto disposals regardless of whether the platform was licensed. If you made a profit, it needs to be declared on your income tax return and is subject to the 30% flat tax under the PFU regime.
How do I know if a crypto platform is authorized in France?
Check the official PSAN and PSCA registers on the AMF website (amf-france.org). You can also call the AMF's investor helpline on 01 53 45 62 00, Monday to Friday from 09:00 to 12:30. If a platform doesn't appear in the authorized registers, do not use it.
I've used a platform that the AMF has flagged. What should I do?
Stop depositing funds, download all available transaction history immediately, and seek advice from a tax professional familiar with French crypto tax rules. You'll need to reconstruct your cost basis and ensure any gains are correctly declared. A voluntary correction is always preferable to waiting for a DGFiP inquiry.
Can incomplete records from an unlicensed platform lead to a higher tax bill?
Yes. Without documented proof of what you originally paid (your cost basis), the tax authority may treat a larger portion of your proceeds as taxable gain. Thorough record-keeping, backed by a reliable crypto tax calculator, is the best protection against inflated assessments.
Will the AMF's blacklist tell me every unauthorized platform to avoid?
Not necessarily. The AMF itself acknowledges that the list is updated frequently but is not exhaustive, since new unauthorized actors emerge constantly. Always verify authorization status through the official registers rather than relying solely on the blacklist as a safety net.