- F1 teams asked to remove crypto ads, and decals for the French Grand Prix.
- All teams adhere to the regulations of France.
- Crypto.com , the global F1 partner, also refrains from using their name in the French Grand Prix.
With the start of the French Grand Prix, numerous Formula 1 teams were asked to remove all their crypto ads, decals with the logos of crypto based firms. Adhering to the rules and regulations of France, for advertising, more than ten F1 teams have completely removed all their crypto ads and crypto logos upon their race cars.
Though a little cringe, France indeed was one of the most crypto adopting countries initially. It’s estimated that more than 5% of the population owns crypto or have invested in them. However, things take a rather different approach when it comes to advertising in France.
Though France is indeed well-known for their rich wines, the country still poses certains bans and restrictions when it comes to advertising alcohol, and tobacco. Similarly, in order to advertise crypto in the country, the particular crypto firm should be registered as a ‘Digital Assets Services Provider (DASP)’ with the Autorité des Marchés Financiers (AMF), the Finance Authority of France.
The F1 Teams Adherence
A total of ten teams were said to pose with crypto ads, and decals. Among these ten, about eight of the teams posed more than two or three or even more crypto ads of different firms, and platforms.
Accordingly, the Alfa Romeo F1 team has removed their crypto ads of their crypto partner, Floki Inu (FLOKI), and the crypto financing platform, Vauld. Likewise, there was no sign of Crypto.com, the global official partner for F1, upon the French Grand Prix.
This clearly shows that all the teams, including the crypto firms, adhere to and respect the laws of advertising of France. Also, the Alfa Romeo team states that, they refrain themselves from displaying crypto ads and decals on their F1 race car, as many of their crypto partners are not registered with the AMF.