Categories: News

France Tightens Rules For Influencers Promoting Crypto

Key Points:

  • France launches a “Responsible Influence Certificate” for financial influencers.
  • The certificate mandates disclosure of sponsored content and responsible promotion.
  • The initiative sets a global precedent in crypto advertising regulation.
In a bid to enhance transparency and accountability in the world of social media influencers, regulatory authorities in France, the Autorité des Marchés Financiers (AMF), and the Autorité de Régulation Professionnelle de la Publicité (ARPP), have joined forces to launch the “Responsible Influence Certificate.”
France Tightens Rules For Influencers Promoting Crypto 2

This certificate aims to establish a seal of approval for social media influencers, particularly those active in the financial and crypto industries.

Effective June 1, a new French law mandates that influencers disclose sponsored content and refrain from promoting harmful or unsuitable products or services to their followers. To adhere to this regulation, influencers must obtain the Responsible Influence in Financial Advertising certificate before endorsing any financial product.

The certification process involves a rigorous multiple-choice test, with applicants required to score at least 75%. The topics covered include investment products such as equities, bonds, ETFs, funds, and derivatives, along with services like investment advice.

Additionally, the certificate encompasses crypto assets, alternative assets like collectibles and wine, and securities issued by crowdfunding platforms.

The certificate is valid for one year, and influencers must retake the test to renew it. The ARPP monitors certified content creators and can withdraw the certificate if they fail to comply with communication rules.

This initiative sets a notable precedent in the regulation of advertisements within the emerging industry and could influence other nations.

The United Kingdom has already taken a stringent stance on crypto-related advertising, with the Financial Conduct Authority (FCA) providing clear legal pathways earlier this year. Defaulters in the UK may face up to two years of imprisonment.

France’s move signifies a significant step toward responsible advertising in the crypto and financial sectors, aiming to combat fraudulent ventures and promote transparency in the influencer marketing sphere.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

32 minutes ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

1 hour ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

2 hours ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

2 hours ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

2 hours ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

3 hours ago

This website uses cookies.