Adan warns that France’s ban on influencers promoting unauthorized encryption products is detrimental to the growth of the Web3 industry

03/31/2023 22:31 • Digital Disruptors • 82 views

According to reports, Adan, a lobbying group in the French encryption industry, said that plans to ban social media influencers from promoting unauthorized encryption products would undermine France’s appeal to global Web3 participants. Members of Parliament supported a measure proposed by the Parliamentary Economic Committee last week aimed at preventing harmful promotional activities involving high-risk financial products, drugs, and cosmetics. Adan said that before the industry prepared to implement a stricter registration system, the approval had caused an additional blow to the industry and pushed innovation to other countries. The organization hoped that the Senate debate could re establish a version that was more suitable for all innovative developments in Web3, while ensuring consumer protection.

French encryption industry lobby group: encryption promotion ban will undermine France’s attractiveness for Web3

The French encryption industry may face a severe blow due to new regulations aimed at preventing harmful promotional activities involving high-risk financial products, drugs, and cosmetics. Adan, a lobbying group in the French encryption industry, warns that banning social media influencers from promoting unauthorized encryption products would undermine France’s appeal to global Web3 participants.
The proposed measure by the Parliamentary Economic Committee received support from Members of Parliament last week, causing some concern for the encryption industry. Adan expressed their disappointment in the decision and anticipated that it could impede innovation, causing adverse effects on the industry by pushing innovative developments to other countries.
# Why does Adan disagree with the ban on influencers promoting unauthorized encryption products?
Adan, a lobbying group in the French encryption industry, thinks that banning social media influencers from promoting unauthorized encryption products undermines France’s appeal to global Web3 participants. This measure could impede innovation, causing adverse effects on the industry and pushing innovative developments to other countries.
# What is the potential impact of banning influencers from promoting unauthorized encryption products in France?
The proposed measure by the Parliamentary Economic Committee aimed at preventing harmful promotional activities involving high-risk financial products, drugs, and cosmetics has caused some concern for the encryption industry. Adan warns that France’s ban on influencers promoting unauthorized encryption products can undermine France’s appeal to global Web3 participants and lead to adverse effects on the industry, pushing innovative developments to other countries.
# How can France balance consumer protection and innovation in Web3?
Adan hopes that the Senate debate could reestablish a version that is more suitable for all innovative developments in Web3 while ensuring consumer protection. Balancing consumer protection and innovation is essential for the growth of the Web3 industry. France could establish reasonable regulations that support innovation and the safety of consumers while preventing harmful promotional activities.
The industry is already preparing to implement a stricter registration system before the proposed measure. Adan urges the government to consider a more comprehensive approach with industry voices in developing policies that support innovation while ensuring safety for consumers.
In conclusion, Adan, a lobbying group in the French encryption industry, warns that France’s ban on influencers promoting unauthorized encryption products can be detrimental to the growth of the Web3 industry. It can impede innovation and cause adverse effects on the industry by pushing innovative developments to other countries. Balancing consumer protection and innovation is essential for the growth of the Web3 industry. Adan urges the government to consider a more comprehensive approach with industry voices in developing policies that support innovation while ensuring safety for consumers.

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