Not the first time something has been attempted to prevent cultural "invasion" on French culture & language. On at least two occurrences there has been regulatory attempt to oust Anglo-Saxon culture: the French spoken song quota on radio (60% minimum) and the replacement of the e-mail by courriel and then mÃ¨le in all administrative paperwork (the first one being a contraction of "courrier Ã©lectronique" aka e-mail and the second one a phonetic way to write "correctly" mail).
It's always harder to understand a culture from outside, but this is just as dumb as preventing people to use "to google" when meaning doing a web search using Google by an act of law.
Don't worry though as French have a culture to rebel against what is usually perceived as unfair and there are a few laws that, although still "active", are not enforced and therefore could not be brought in court. Such an example exist in the regulation preventing women to wear trousers dating back from 1800. I know you are going to say *** like anyone does when they hear about this non-sense. But there is a proposition 200 years later to remove this futile text of law (see http://www.assemblee-nationale.fr/13...s/pion2467.asp
Hope this helps understand our difference and how this is in fact not to be feared.
My opinion, for what it's worth, is that someone close to some regulator has interest to get a French version of those social media promoted. But I might be just cynical.