French Senate to approves social media influencers promote cryptocurrencies

A recent change to pending law was passed by the Economic Affairs Committee of the French Senate, enabling registered cryptocurrency businesses to use social media influencers for advertising and promotional reasons.

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The amended phrasing would let businesses that are registered with France’s Financial Markets Authority (AMF) to use influencers for their goods, according to a translation of the amendment.

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"The modification is more stringent than the restrictions now in the Consumer Code since it forbids digital asset service providers (PSAN) registered with the Financial Markets Authority (AMF) from using commercial influence."

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