France Favours Registered Crypto Biz Promotion
The French Senate’s Economics Committee discussed social media influencers associated with the crypto industry on May 3rd. According to reports, senators agreed on a proposal that would allow these influencers to promote products from registered cryptocurrency firms.
As is clear, French senators intend to take less stringent measures than their counterparts in Paris’ National Assembly, which voted in March to effectively ban crypto advertisements by social media stars.
Notably, the proposed amendment approved by the Senate Committee will now be debated in the Senate plenary next week. According to sources, the amendment intends to allow cryptocurrency companies to pay for publicity through influencers if they are registered with or have a license from regulators.
(With inputs from Shikha Singh)
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