According to media reports in France, one of the largest economies in the European Union, lawmakers are working on a new crypto regulation. The legislators will soon submit a new draft to the legislature that will criminalize cryptocurrency advertising.
Although the crypto money industry is developing a little more every day, it is an undeniable fact that the volatility in the market is still very high. French lawmakers, who believe that new investors may be exposed to major deceptions, want to take the necessary audit decisions regarding the sector.
If the bill, which is prepared to protect the investor, is passed by the parliament, people or organizations that advertise crypto money will face a fine of 30,000 euros.
The proposed bill does not just put cryptocurrencies in sight. In addition, it is aimed to prevent influencers from promoting health products, gambling and video games through social media.
Celebrities Are In Trouble With Crypto Ads!
The American government, which has put the crypto industry under great pressure in recent months, is also investigating celebrities who advertise.
Famous actor Kim Kardashian was sued by the SEC for advertising EthereumMax if he did not get paid. Logan Paul, well-known to the younger generation, will appear in court for promoting a Web3 game without a deal.