The French Senate Economics Committee approved proposals on Wednesday that would allow social media influencers to promote the products of crypto companies registered like Binance.

The Senate appears to be more lenient than their counterparts at the National Assembly of Paris, which voted in March to ban crypto advertisements by social media stars.

The amendment passed by the Senate committee will be discussed next week in Senate plenary. It would allow crypto companies that are registered or licensed to do paid publicity through influencers.

According to a note explaining the Senate plan, Amel Gacquerre of the Centrist Union, the lead legislator, aligns the bill’s provisions with the French Consumer Code. The bill also cracks down on influencers who promote cosmetics and gambling.

National Assembly took a more strict stance, saying influencers could only promote products of crypto firms that had a license issued by the Financial Markets Authority. In practice, this is not true. Hundreds of firms, including Binance Bitstamp, eToro, have registered with the regulator. This confirms that they comply with money laundering and governance standards.

It is normal that both the Senate and Assembly would have to agree on a bill before it could become law. The industry lobby group ADAN tweeted on Wednesday, that the Assembly’s stance could hurt the country’s ambition to become a crypto hub.

French legislators have also tightened registration conditions in order to prepare for the new European Union regulations known as Markets in Crypto Assets Regulation (MiCA), which set tougher rules for crypto exchanges, wallet providers, and stablecoin issuers.

Read more about French lawmakers agree to effectively ban crypto influencer promotions

Sandali Handagama is the editor.