The AMF announces the delisting of PSAN BYKEP

Hard blow for Bykep – Usually when we tell you about the status of digital asset service provider (PSAN), it is rather to announce good news. As the recent addition of like PSAN. But in this case, it’s bad news: Bykep (formerly Keplerk) comes from to lose its registration as a PSAN.

The Bykep platform has its PSAN registration withdrawn

This September 27, 2022 was undoubtedly difficult for the teams of Bykep. It was indeed on that day that theFinancial Markets Authority (AMF) published a communicated release announcing that Bykep SAS was struck off from the list of NASPs, with immediate effect.

This delisting procedure would have been initiated following a “on-the-spot check” carried out by the French Prudential Supervisory and Resolution Authority (ACPR). This in situ control would have revealed “questioning facts” the registration of Byket as a digital asset service provider.

The shortcomings to its obligations as a PSAN would mainly concern the implementation of a mechanism to combat whitening of money and the financing of the terrorism. The ACPR investigation would also have shown operations carried out ” to debiting of customer wallets without their consent”.

To top it off, Bykep would have informed the AMF of a “theft of digital assets by computer attack” on September 8th. For an amount of €300,000. The Autorité des marchés financiers recalls that Byket did not havea PSAN licensebut with a simple registration. The latter does not involve extensive initial controls by the AMF and the ACPR.

John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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