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France Bans Influencers From Direct And Indirect Promotion Of Cryptocurrency
The French parliament has been making moves to regulate the cryptocurrency industry in the country, with a bill that will require cryptocurrency companies to register with regulators from January 2022. However, it seems that France is not stopping there in its efforts to regulate the industry, as a new amendment has been agreed upon to ban influencers from advertising cryptocurrency.
According to reports, the Economic Committee of the French National Assembly agreed to the amendment, which will ban influencer direct and indirect promotion of cryptocurrency without permission. This move is seen as part of the country’s strict regulation of the industry, despite being positive towards it.
It is worth noting that currently, there is not a single cryptocurrency company officially licensed by the French financial authorities, effectively banning influencers from promoting cryptocurrency altogether. The bill will go into effect after getting the consent of the Senate and the House of Representatives.
The bill requiring cryptocurrency companies to register with regulators from January next year was passed earlier this year, with 109 votes in favor and 71 against. The registration process will include proof of compliance with governance and anti-money laundering regulations.
The main objective of the bill is to force French cryptocurrency companies to acquire cryptocurrency operator licenses until the announcement of MiCA, a cryptocurrency regulation that covers the entire European Union, by the end of 2024.
French senator Herve Maury, who is part of the French Finance Committee, explained the purpose of the bill, stating that “French cryptocurrency companies have to obtain licenses before October of this year, but no one has done so.” This means that local cryptocurrency companies that are not registered with the French Financial Markets Authority (AMF) will have to obtain a license from 2024.
As the regulation of the cryptocurrency industry becomes more important around the world, it is likely that more countries will follow in France’s footsteps in making strict laws for related regulations.
#French #MiCA #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
According to reports, the Economic Committee of the French National Assembly agreed to the amendment, which will ban influencer direct and indirect promotion of cryptocurrency without permission. This move is seen as part of the country’s strict regulation of the industry, despite being positive towards it.
It is worth noting that currently, there is not a single cryptocurrency company officially licensed by the French financial authorities, effectively banning influencers from promoting cryptocurrency altogether. The bill will go into effect after getting the consent of the Senate and the House of Representatives.
The bill requiring cryptocurrency companies to register with regulators from January next year was passed earlier this year, with 109 votes in favor and 71 against. The registration process will include proof of compliance with governance and anti-money laundering regulations.
The main objective of the bill is to force French cryptocurrency companies to acquire cryptocurrency operator licenses until the announcement of MiCA, a cryptocurrency regulation that covers the entire European Union, by the end of 2024.
French senator Herve Maury, who is part of the French Finance Committee, explained the purpose of the bill, stating that “French cryptocurrency companies have to obtain licenses before October of this year, but no one has done so.” This means that local cryptocurrency companies that are not registered with the French Financial Markets Authority (AMF) will have to obtain a license from 2024.
As the regulation of the cryptocurrency industry becomes more important around the world, it is likely that more countries will follow in France’s footsteps in making strict laws for related regulations.
#French #MiCA #crypto2023 #BTC #azcoinnews
This article was republished from azcoinnews.com
The CEO of Sorare, the #French unicorn startup famous for #fantasysports NFT cards, has spoken about plans for the future, announcing the mobile app by the end of the year.
#Sorare NFT: plans for the future of the fantasy sports #unicorn startup
According to reports, it appears that Sorare does not intend to stop, with the CEO and co-founder, Nicolas Julia, telling what the plans are for the future of the famous fantasy sports NFT card startup.
And indeed, the upcoming launch of Sorare’s mobile app by the end of the year appears on the list, which will give users the ability to buy and sell their NFT cards through mobile as well.
#Sorare NFT: plans for the future of the fantasy sports #unicorn startup
According to reports, it appears that Sorare does not intend to stop, with the CEO and co-founder, Nicolas Julia, telling what the plans are for the future of the famous fantasy sports NFT card startup.
And indeed, the upcoming launch of Sorare’s mobile app by the end of the year appears on the list, which will give users the ability to buy and sell their NFT cards through mobile as well.
Black & White Burger, a #French fast food restaurant company, has announced that all of its locations in #Belgium will accept #cryptocurrency payments.
The chain also claims to have developed a "mystery burger," which will only be made accessible to consumers paying with cryptocurrency.
The chain has teamed with #Lyzi, a French producer of cryptocurrency applications.
The chain also claims to have developed a "mystery burger," which will only be made accessible to consumers paying with cryptocurrency.
The chain has teamed with #Lyzi, a French producer of cryptocurrency applications.
#French VC firm Frst reaches $80 million first close for its new seed fund..
Frst, the Paris-based #VC firm with no vowel in its name, is in the process of raising its second fund. The firm has already reached a first closing of €72 million (nearly $80 million at today’s #exchange rate).
And if there’s one thing to say about this new fund is that it’s business as usual for Frst. As the name suggests, Frst aims to be the first VC firm to #investing in a tech startup.
Frst, the Paris-based #VC firm with no vowel in its name, is in the process of raising its second fund. The firm has already reached a first closing of €72 million (nearly $80 million at today’s #exchange rate).
And if there’s one thing to say about this new fund is that it’s business as usual for Frst. As the name suggests, Frst aims to be the first VC firm to #investing in a tech startup.
Nvidia Faces Data Theft Allegations from Valeo. 💻🇫🇷
Nvidia, known for its advancements in artificial intelligence, is now embroiled in a legal battle with Valeo, a French automotive technology company. The dispute revolves around allegations of data theft by a former Nvidia employee.
Accusations by Valeo:
Valeo claims that Nvidia's senior executive, Muhammed Müniruzzaman, engaged in data theft while working for the company in Germany in 2021. The alleged theft was unveiled during a video meeting between Nvidia and Valeo executives in 2022, where Müniruzzaman inadvertently shared Valeo's proprietary software source code.
Data Transfer and Screenshots:
During the video meeting, Müniruzzaman left an application open, revealing Valeo's source code. Valeo employees took screenshots, accusing the ex-employee of transferring gigabytes of data to Nvidia. The incident came to light in September 2023 when Müniruzzaman confessed to the crime during a statement to German authorities.
Financial Implications:
Valeo asserts that Nvidia used the stolen data to enhance its parking and driving assistance software. The French company claims Nvidia saved millions of dollars by incorporating Valeo's code, creating a rival product.
Legal Actions:
Valeo has filed a lawsuit against Nvidia in California, seeking significant damages. Additionally, Valeo is requesting a court order prohibiting Nvidia and its subsidiaries from using Valeo's code.
Nvidia's Response:
As of now, Nvidia has not released an official statement regarding the allegations. The confession from a former high-ranking employee may pose significant challenges for Nvidia's defense.
#Nvidia #Valeo #French #France
Nvidia, known for its advancements in artificial intelligence, is now embroiled in a legal battle with Valeo, a French automotive technology company. The dispute revolves around allegations of data theft by a former Nvidia employee.
Accusations by Valeo:
Valeo claims that Nvidia's senior executive, Muhammed Müniruzzaman, engaged in data theft while working for the company in Germany in 2021. The alleged theft was unveiled during a video meeting between Nvidia and Valeo executives in 2022, where Müniruzzaman inadvertently shared Valeo's proprietary software source code.
Data Transfer and Screenshots:
During the video meeting, Müniruzzaman left an application open, revealing Valeo's source code. Valeo employees took screenshots, accusing the ex-employee of transferring gigabytes of data to Nvidia. The incident came to light in September 2023 when Müniruzzaman confessed to the crime during a statement to German authorities.
Financial Implications:
Valeo asserts that Nvidia used the stolen data to enhance its parking and driving assistance software. The French company claims Nvidia saved millions of dollars by incorporating Valeo's code, creating a rival product.
Legal Actions:
Valeo has filed a lawsuit against Nvidia in California, seeking significant damages. Additionally, Valeo is requesting a court order prohibiting Nvidia and its subsidiaries from using Valeo's code.
Nvidia's Response:
As of now, Nvidia has not released an official statement regarding the allegations. The confession from a former high-ranking employee may pose significant challenges for Nvidia's defense.
#Nvidia #Valeo #French #France
