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France to Ban Influencers from Promoting Crypto Products and Services

7 days ago

Those violating the law could be sentenced to up to two years in jail as well as a fine of 30,000 euros, in addition to losing their social media accounts.

On Wednesday, The French National Assembly’s Economic Affairs Committee addressed crypto-related advertisements and promotions in France made by social media influencers. It was agreed that such activities should be banned in order to protect consumers from potential risks. The proposal has been added to Bill no. 790 which aims to combat scams and “excess” information shared by influencers on social media platforms. Introduced by Stéphane Vojetta of President Emmanuel Macron’s ruling Renaissance party and opposition socialist Arthur Delaporte, the adjustment to the law would put crypto assets in the same category as risky financial

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