The South Korean government has asked Apple and Google to block play-to-earn games from their app stores. The government is now beginning to examine the play-to-earn model and related games in its bid to regulate the crypto market.
The South Korean government has asked both Apple and Google to block play-to-earn games from their respective app stores. Local media outlets reported that the government had ordered the two tech firms not to allow the release of “money-making games” until further examination. The government has reportedly also begun monitoring blockchain-based games.
Crypto P2E games being scrutinized
The Game Management Committee under the Ministry of Culture, Sports and Tourism of South Korea sent a letter to certain operators to block the distribution of these games. They intend to carry out this block by preventing the apps from being registered in the first place, hence the request to Apple and Google.
However, this is not a complete ban. It seems that these games can be released, but they must first receive a rating from the Game Management Committee. The latter will look at such things as the age rating. The Game Committee has already canceled the classification of 15 blockchain-based games this year.
Play-to-earn (P2E) games are extremely popular at the moment and have been forming a larger presence since the start of 2021. These games let players earn for their activities in-game and are particularly popular in Asia. There have been reports that some players have been able to make a considerable amount of money from these games, which has begun attracting the attention of governments.
South Korea closely monitoring the crypto market
The latest move by the South Korean government to take down play-to-earn games is just one more action by the authorities to impose control over the crypto market. The country has been one of the most active when it comes to regulation.
Among the actions that South Korea has taken is a taxation scheme, banning privacy coins, and asking exchanges to receive official certification. Lawmakers have not shied away from executing strict punitive measures if and when required, and it does not seem like that is going to change.
The country’s crypto enthusiasts expect there will be a pushback against the removal of play-to-earn games. However, it seems unlikely that the government will go back on its position.
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