French lawmakers have agreed to ease restrictions in a crypto bill aimed at controlling the impact of social influencers on digital assets. The bill, which was previously drafted to allow only licensed digital asset firms to participate in influencer marketing, will now permit digital asset firms registered with France's Financial Markets Authority to engage in such marketing. The lawmakers have stipulated that influencer marketers can only promote financial products and digital assets from firms registered with the AMF, and that non-compliance with the laws could result in penalties including imprisonment, fines and a possible ban on influencer activity. The move comes as social media platforms and influencer marketing become increasingly popular means of promoting businesses, including crypto firms.
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