BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Bitcoin

Revisions to French Crypto Influencer Bill: Lawmakers Agree to Soften Restrictions

by Dan K
May 26, 2023 - 11:00 am
in Bitcoin
Police officers stand guard at a Paris courthouse following arrests linked to high-profile crypto ransom cases.

Initial Proposed Restrictions on Crypto Influencer Marketing

In March, a draft bill proposed in France posed a significant threat to influencer marketing for cryptocurrency companies. The proposed legislation would have allowed only licensed crypto firms to engage in influencer marketing. However, despite the requirement for crypto companies to register with the regulator, none are currently licensed in France.

Unanimous Agreement on Revised Bill

On May 25, the French Senate reached a unanimous agreement on a revised bill, intended to regulate influencer promotions across various industries. This toned-down version only requires crypto firms to register with the Financial Markets Authority (AMF), according to a statement from French lawmakers Arthur Delaporte and Stéphane Vojetta.

Implications of the Revised Bill

There are currently around 60 crypto firms registered with the AMF, none of which have opted for the licensing process. Under the revised bill, “only financial products and cryptocurrencies from players registered with the AMF may be promoted.” Moreover, the AMF and the consumer affairs regulator are expected to have their control capacities bolstered.

Penalties and Further Restrictions

Penalties for non-compliance with these regulations include up to two years of imprisonment and a 300,000 euro ($322,000) fine. Additionally, the influencer could face a possible ban on their activities. Beyond crypto, influencers’ promotion of certain other products, such as nicotine products and gambling to those under 18, is also being restricted.

Recent Amendment to Allow Influencer Marketing

Earlier in May, the Senate’s Committee on Economic Affairs approved an amendment allowing crypto firms registered with the AMF to engage in influencer marketing. This move seems to have set the stage for the recent relaxation of the proposed bill’s restrictions.

A Balanced Approach Towards Influencer Marketing

This consensus among French lawmakers indicates a shift in the country’s approach towards regulating influencer marketing in the crypto space. It represents a balanced stance, neither completely prohibiting crypto firms from influencer marketing nor leaving it wholly unregulated. While it still imposes penalties for non-compliance, the revised bill allows registered firms to continue their marketing efforts, providing an opportunity for growth and expansion in the crypto industry.

With the agreement on this revised bill, France has shown a commitment to developing a robust and responsible crypto ecosystem, where influencers play a crucial role in promoting registered financial products and cryptocurrencies. However, the exact impact of these changes will only become clear once the bill’s wording is published and its implementations begin. This development is undoubtedly one to watch for both cryptocurrency firms and influencers operating in France.

Tags: EuropeFranceLawsuitRegulation
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Green Minerals headquarters and Bitcoin symbol representing strategic investment deal

Bitcoin Inflows From 2024-2025 Break 15-Year Record, Hitting $625B

September 15, 2025

Bitcoin on-chain inflows reached $625B in 1.5 years, outpacing 15 years of growth. Institutional demand and Fed policy...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Wall Street Veteran Jordi Visser Predicts Big Bitcoin Allocation Boost by Year-End

September 14, 2025

Jordi Visser forecasts US institutions will increase Bitcoin allocations before year-end, boosting Q4 demand and setting up portfolios...

China Renaissance invests $100M in BNB through MoU with YZi Labs

China Renaissance Commits $100M to BNB in Landmark Treasury Move

August 22, 2025

China Renaissance invests $100M in BNB, signing MoU with YZi Labs to push adoption and regulated listings in...

BlackRock CEO Larry Fink speaking at the World Economic Forum

Bitcoin’s biggest Wall Street backer takes the wheel at World Economic Forum

August 15, 2025

BlackRock CEO Larry Fink joins André Hoffmann as interim co-chair of the WEF board, signaling stronger ties between...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service