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This law is about "tracking cookies", mainly about third party cookies like tracking user behaviour over various networks etc. Like Google and FB and the big ad agencies do to show targeted ads to users.
You are still allowed to use cookies for your site for log-in forms and shopping carts etc.
For sponsors and tracking sales nothing will change. All of them track fine without cookies. The majority also uses IP tracking + parse along the ref code to the join form. So you don't have to worry about this.
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