The French Senate’s Committee on Economic Affairs recently approved an amendment to pending legislation allowing registered cryptocurrency companies to hire social media influencers for advertising and promotional purposes.

According to a translation of the amendment provided by Bing, the new wording would allow companies that are registered with France’s Autorité des Marchés Financiers (AMF) to hire influencers for their products:

In its original iteration, the bill in question called for what essentially amounted to an outright ban on influencer advertising for the crypto industry in France. Its wording limited the companies who could engage in influencer advertising to only those licensed by the AMF, a bar no cryptocurrency company currently meets.

All cryptocurrency companies operating in France are legally required to register with the AMF. So far, none have received the necessary licensing that would allow them to hire influencers to promote their products in the nation legally.

(by Tristan Greene)