The South Korean government has asked Apple and Google to block games for sale from their app stores. The government is now beginning to examine the game-to-win model and associated games in its attempt to regulate the crypto market.
The South Korean government has asked Apple and Google to block games for sale from their respective app stores. Local media reported that the government had ordered the two tech companies not to allow the release of “money-making games” until further scrutiny. The government has also reportedly started monitoring blockchain-based games.
Crypto P2E games under review
The game management committee of South Korea’s Ministry of Culture, Sports and Tourism has sent a letter to some operators to block the distribution of these games. They intend to effect this blocking by first preventing the registration of applications, hence the request from Apple and Google.
However, this is not a complete ban. It looks like these games may be released, but they need to receive a rating from the Game Management Committee first. The latter will look at things like age classification. The gaming committee has already rescinded the ranking of 15 blockchain-based games this year.
Play-to-earn (P2E) games are extremely popular at the moment and have been growing in popularity since the start of 2021. These games allow players to earn for their in-game activities and are particularly popular in Asia. It has been reported that some gamers were able to earn a considerable amount of money from these games which started to gain the attention of governments.
South Korea is keeping a close watch on the crypto market
The South Korean government’s latest move to cut gambling to win is just one more move by authorities to impose control over the crypto market. The country has been one of the most active in terms of regulation.
Among the measures South Korea has taken is a tax regime, banning confidentiality documents and requiring exchanges to receive official certification. Lawmakers have not shied away from enforcing tough punitive measures if and when needed, and it doesn’t look like that will change.
Crypto enthusiasts nationwide expect there to be a pushback against the removal of games for sale. However, it seems unlikely that the government will reverse its position.
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