{"id":6984,"date":"2023-09-11T18:45:40","date_gmt":"2023-09-11T18:45:40","guid":{"rendered":"https:\/\/xpresdocuments.com\/2023\/09\/11\/everything-to-know-about-frances-crypto-influencer-certification\/"},"modified":"2023-09-11T18:45:40","modified_gmt":"2023-09-11T18:45:40","slug":"everything-to-know-about-frances-crypto-influencer-certification","status":"publish","type":"post","link":"https:\/\/xpresdocuments.com\/2023\/09\/11\/everything-to-know-about-frances-crypto-influencer-certification\/","title":{"rendered":"Everything to Know About France\u2019s Crypto Influencer Certification"},"content":{"rendered":"
France\u2019s finance and advertising regulators have united to launch a new certification program for crypto and financial influencers. This initiative aims to professionalize the industry and protect investors. However, this certificate will remain optional for content creators.<\/strong><\/p>\n The Autorit\u00e9 des March\u00e9s Financiers (AMF) and the Autorit\u00e9 de R\u00e9gulation Professionnelle de la Publicit\u00e9 (ARPP) released<\/a> new details about their \u201cResponsible Influence Certificate\u201d on September 7 through the AMF\u2019s official website.<\/p>\n Younger generations increasingly rely on influencers, or \u201cfinfluencers,\u201d for financial advice<\/a>. Social media platforms, especially Instagram and TikTok, have become popular hubs for investment and trading tips.<\/p>\n To obtain the \u201cResponsible Influence Certificate,\u201d influencers must score 75% or more on a 25-question exam. Notably, this module is only available after completing the broader \u201cgeneral\u201d certificate. Contrary to some reports, securing this certificate is not a prerequisite to becoming a French financial influencer. <\/p>\n Read more: Crypto Influencer Marketing: The Ultimate Guide to Getting Started<\/a><\/strong><\/p>\n The curriculum addresses the legal complexities of promoting investment offers and highlights restricted advertising areas. This especially applies to high-risk contracts, like binary options and certain CFDs on Forex.<\/p>\n Yet, certain brands in France are inclined to collaborate exclusively with certified influencers. The issuing bodies also hold the discretion to rescind the certificate depending on the terms.<\/p>\n The regulators unveiled plans for the \u201cResponsible Influence Certificate\u201d in July 2022. The expanded module will now encompass cryptocurrencies, digital assets, and traditional financial products<\/a> such as equities, bonds, ETFs, funds, and derivatives. However, it deliberately excludes subjects like banking and insurance.<\/p>\n The influencer market, majorly populated by legally inexperienced young people, has encountered several challenges. Indeed, a 2021 ARPP study<\/a> analyzing 30,000 social media pieces disclosed that 25% of influencers did not adequately declare their brand associations.<\/p>\n This discovery led to the debut of the influencer certification program in September 2021. It has since been updated and refined.<\/p>\n The French government\u2019s objective with this certification is to equip financial influencers better to guide their followers and safeguard potential investors.<\/p>\n In the backdrop of this development, crypto influencers navigate legal complications. Earlier this year, a prominent example is Edwin Garrison lodging a $1 billion class-action suit against \u201cFTX influencers\u201d<\/a> and related parties. <\/p>\nGrowing Role of Influencers in Finance<\/h2>\n
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The Imperative for Certification<\/h2>\n