French Senate's Economics Committee Proposes Allowing Influencers to Promote Registered Crypto Firms
The French Senate's Economics Committee has proposed allowing social media influencers to promote products of registered crypto companies like Binance, aligning the bill with the existing French Consumer Code. The amendment would permit crypto companies to pay for publicity via influencers if they are either registered with or have a license from regulators. The National Assembly previously took a stricter line, stating that influencers should only be allowed to promote products from crypto companies that have a license from the Financial Markets Authority, which no firm currently holds. Industry lobby group ADAN praised the Senate committee's stance as "encouraging.