France has loosened restrictions on social media influencers promoting about crypto companies.
Economic Committee of the French National Assembly, unlicensed cryptocurrency sirkets about promotion on the restrictions on back step threw. Subject specific March presented at the end of the month first draft lawthe phenomena only licensed crypto companies It was about promoting.
But in France, for now, those who meet the conditions lack of a licensed cryptocurrency firm attracted attention and this draft extreme restrictive was described as.
Taking into account the reactions from the French Senate, 25 May on in a wide variety of industries made by phenomena promotions bill aimed at regulating revised been taken for the state unanimously had an agreement. On the other hand, the proposed bill full text not yet published.
According to the revised bill, it is now only the country’s financial regulator. To the Financial Markets Authority (AMF) registered crypto firms will need to use social media influencers for their marketing efforts. About approx. currently registered with AMF 60 crypto firms available and none optional did not undertake licensing.
In addition, the aforementioned draft law was prepared by using similar mechanisms. ban the advertising of health products, gambling and video games also includes. Persons caught violating bans under the bill two years in prison And $320,000 may be fined.
These restrictions were also present in the first draft and were recorded in the final draft without any revision.