The French Senate's proposed amendment would allow registered companies such as Binance to pay for 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.in an educational blog post,"France has established a regulatory framework for cryptocurrency that primarily relies on two regimes: the token sale or ICO visa and the Digital Assets Service Providers registration and license.
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.The change of language in the amendment would eliminate the licensing requirement and thus allow companies that are simply registered with the AMF to pay influencers for promotion on social media.
Crypto Twitter appears to be hailing the news as a positive step for the French influencer and cryptocurrency markets.
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