### The French government is considering a new amendment to Bill 790 that would forbid influencers from creating crypto advertisements. The proposed legislation aims to prevent fraud and scams, which are often perpetrated through digital channels, from preying on unsuspecting consumers.

Under the proposed legislation, violators could face hefty fines of up to 30,000 Euros and imprisonment for up to two years. Repeat offenders may face even higher fines, which could have a severe impact on their finances and reputation.



In addition to banning crypto advertisements, the proposed law would also prohibit influencers from promoting other financial products, gambling, video games, health products, and any other ads that encourage excess on the part of these influencers or organizations.



Despite the strict measures, the proposed amendments to the statute include several carve-outs. Only crypto asset promotion activities that have been reviewed and approved by the AMF will be allowed to continue.



The proposed ban could potentially harm the public's perception of cryptocurrencies, leading to lower interest and demand for them in France. This could have repercussions on the growth and adoption of digital assets in the country.



The French government is considering a new amendment to Bill 790 that would forbid influencers from creating crypto advertisements. The proposed legislation aims to prevent fraud and scams, which are often perpetrated through digital channels, from preying on unsuspecting consumers.

Mon Apr 24 2023

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Mon Apr 24 2023 France Cracks Down On Crypto Promotions By Influencers

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Mon Apr 24 2023

France Cracks Down On Crypto Promotions By Influencers