France launches a certificate for finfluencers, including crypto

MARKET_WATCH Crypto

Amid the current pressure on so-called “finlfluencers,” promoting investment products in their blogs, France makes a step toward outright licensing them. The country introduces a non-obligatory Responsible Influence Certificate.As revealed on Sept. 7, two French regulatory agencies, the Autorité des Marchés Financiers (AMF) and the Autorité de Régulation Professionnelle de la Publicité (ARPP) have jointly set up a training module for influencers in the financial sector.The "Responsible Influence Certificate" has existed since 2021, when it was first time introduced by the ARPP. Over 1,000 French influencers have obtained it. Now the Certificate will have a special course for financial influencers, advertising equities, bonds, ETFs, funds, derivatives and other investment products, including even wine. Crypto-assets are also mentioned in the announcement. Related: AI usage on social media has potential to impact voter sentiment

 

To pass the Responsible Influence Certificate in Financial Advertising, one would have to obtain a minimum of 75% correct answers to 25 multiple-choice questions. While the Certificate doesn’t hold the status of an obligatory legal document, the ARPP would be able to withdraw it from non-complying influencers. Moreover, to obtain the Responsible Influence Certificate, one would first have to get the “general Certificate”, developed by the ARPP for all influencers. In May 2023, the French Senate approved an amendment allowing registered cryptocurrency companies to hire social media influencers for advertising and promotional purposes. At the same time, in the United Kingdom regulators warn influencers that their promotions could be an offense punishable by up to two years in jail, an unlimited fine or both. And the ​European Consumer Organisation lobbies for a total prohibition on advertising crypto for influencers.

 

Source : [France launches a certificate for finfluencers, including crypto](news.google.com/rss/articles/CBMiX2h0dHBzOi8vY29pbnRlbGVncmFwaC5jb20vbmV3cy9jcnlwdG8tZnJhbmNlLWxhdW5jaGVzLWNlcnRpZmljYXRlLWZpbmZsdWVuY2Vycy1pbmNsdWRpbmctY3J5cHRv0gEA?oc=5) undefined - 53Cointelegraph / September 11, 2023

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.