France Could Soon Prohibit Influencers From Promoting Gambling or Cryptocurrency

Must read

[ad_1]

Posted on: March 23, 2023, 08:03h. 

Last updated on: March 23, 2023, 08:03h.

As it deals with protestors rioting in the streets over unwanted pension reforms, France is going after a new sector. A bill is in the works that wants to reduce influencers’ influence on gamblers and cryptocurrency investors.

The Eiffel Tower in Paris, France, at night
The Eiffel Tower in Paris, France, at night. The country is cracking down on influencers promoting gambling and cryptocurrency. (Image: Pinterest)

Bill 790 is an attempt to address the promotion of unregulated or unlicensed activity in the country by influencers on social media. Since no crypto project is licensed in France, this essentially cuts off the segment for content creators.

Influencers have been at the center of debate for several weeks in France. Three weeks ago, the General Directorate for Competition, Consumer Affairs and Fraud Prevention revealed that of the 60 influencers and agencies it had targeted since 2021, 60% didn’t respect advertising regulations and consumer rights policies.

No More Influencing Influencers

The bill prohibits advertising in exchange for remuneration of games of skills and chance, video games that include loot boxes, pharmaceuticals and cryptocurrency. Those who fail to comply with the law can receive up to two years in prison and a fine of €30,000 (US$32,730).

Those influencers who break the law could also receive another penalty, although it is more difficult to enforce. They could be prohibited from working as an influencer either temporarily or permanently.

The objective of this bill is to create and strengthen a legal system that can both empower and sanction, where appropriate, all influencers, their agencies, advertisers and distribution platforms, in order to strengthen the protection of social network users and consumers,” explains France’s Bill 790.

The legislative effort could also implicate social media platforms. While not completely outlined, the text of the bill indicates that violations of the law could also lead to repercussions against “distribution platforms” like YouTube, Instagram and others.

Bill 790 is gathering support in France’s legislation. The National Assembly’s Economic Affairs Committee approved it yesterday, and it will now go before the full Assembly and Senate. There’s no timeframe for the final decision to be made.

Scammers Gonna Scam

The legislation is the result of several scams that have permeated France’s digital channels and gained momentum this year. This past January, over 100 people joined a class-action lawsuit against two people pushing cryptocurrency investments and trading.

However, the activity was nothing more than a scam. The two influencers are hoping that they can avoid trouble by hiding out in Dubai. This is the same fraud that has landed in the US Securities and Exchange Commission’s (SEC) office, as well.

On that end, the SEC has gone after Jake Paul, the influencer and MMA fighter, Lindsey Lohan and Justin Sun for illegal promotions. Sun is the founder of the Tron crypto project, and the SEC accuses him of manipulating markets and offering unregistered securities.

Last year, French influencer and reality TV star Laurent Correira found greater attention for the wrong reasons, as well. He allegedly had a major role in the Billionaire Dogs Project, an NFT (non-fungible token) offering. It ended in a rug pull, but not until after it collected just under $1 million.

[ad_2]

Source link

More articles

- Advertisement -spot_img

Latest article

kemampuan spesial putaran ajaib slot mahjong ways 1 langsung cuan maksimalteknik keramat slot mahjong ways 2 auto turun scatter berlimpahslot jackpot unlimited paling di cari memberslot sugar rush 1000 mudah jackpot besartrik menangkan jackpot pakai strategi inirahasia mengalahkan mesin slot onlinertp dan volatilitas slot pragmatic gates of olympus hari inicara kerja fitur free spin pada slot gates of olympusakun vip mesin slot kakek zeus mudah dapat x500 tiap spincara menang slot sensasional hanya modal receh khusus slot olympusslot unlimited scatter tanpa batas game slot olympus 1000 terbarulink slot gacor terbaru saat inislot demo x500 mesin slot gate of gatotkaca hokiakun pro server jepang jaminan sensa slot olympus x500slot pasti menang dijamin perkalian besar pasti muncul gacor bangetslot anti kalah prediksi admin indra kenzrahasia bocoran dari ahli slot starlight princessstrategi meraih kemenangan besar sweet bonanza x100mengenal simbol penting pada slot gates of olympusfitur multiplikator dari slot gates of olympus yang harus kamu taucara jitu melipat gandakan kemenangan bermain slot onlineslot mahjong ways 2 scatter hitam membararahasia mengalahkan kunci admin mesin slot olympuspanduan lengkap cara mudah jp slot mahjong waysslot maxwin pasti jackpotpola hoki slot super mahjong ways 2 jaminan maxwin sekali spintrik ledakan bom besar x100 sweet bonanzacara mudah munculkan fitur slot scatter hitam kemenangan maksimalcara jitu mengalahkan bandar judi online dengan main slot pragmatic playsistem kemenangan besar 100 juta main slot mahjong ways banjir wild terbanyakcara menjadi sultan dalam sekejap bermain slot mahjong ways2rahasia gacor link maxwin terbaru pgsoftmain slot online dengan pola hoki dijamin maxwinslot mahjong lagi bagi bagi jackpot tanpa batas hanya butuh modal recehkunci kemenangan slot mahjong waysrahasia jam gacor gampang jackpot slot mahjong pandakumpulan slot gacor terbaru 2024sistem spin ajaib slot mahjong ways 1 gampang kasi kemenangan instantcheat gacor slot onlineslot scatter hitam menggila langsung menang 100 jutaslot rave party fever menang maxwin dengan trik bocoran ampuhpola jitu main ikan gampang menang slot koi gate habanerodaftar slot paling jitu memberikan kemenangan kepada member barubocoran pola sakti slot gates of olympuscara mendapatkan perkalian tidak wajar slot mahjong waysbocoran terbaru ahli bermain slot onlinealasan mengapa slot pragmatic gates of olympus begitu populerbocoran pola slot gates of olympus yang pasti slot hokibermain slot pragmatic gates of olympus dengan modal minimtrik main slot jackpot modal recehbocoran akurat sekali spin slot mahjong ways superbanjir kemenangan konsisten slot mahjong tanpa ampun kasi jackpotcara terbaik memaksimalkan kemenangan bermain slot mahjong ways 2admin putri bagi bagi akun sakti khusus slot pragmatic playpenemuan jam hoki slot gacorcara bermain slot gacor dengan langkah ajaib dari admin stevenulasan mendalam starlight princess x1000 menurut para ahliperbandingan slot starlight princess dengan slot lainnya di tahun 2024keistimewaan akun vip di slot online server thailandstrategi terbaik untuk menang di slot starlight princess dari pragmatic playfakta bocoran pola scatter dari negeri para princessgrebek situs pola gacor zeus untuk turunkan scatterketimpa scatter x1000 membuat bandar mahjong ways gulung tikarkumpulan naga hitam memecahkan pola gacor di mahjong wayslari bersama kakek zeus mengejar maxwin x1000mandi jackpot bareng di situs gacor anti rungkad bonanzapeluang kemudahan mencuri pola kakek merah zeusspenjual rujak memberi pola buah untuk mendapatkan jackpot di bonanzaresiko jadi admin slot dapat memecahkan pola gacor mahjong ways2seorang pria muda di temukan sukses berkat pola gacor princessnya