👀 France🇫🇷: regulator introduces a new regulatory framework for monetizable digital games with objects

👀 France🇫🇷: regulator introduces a new regulatory framework for monetizable digital games with objects

The National Gambling Authority (ANJ) is currently focusing on games that use blockchain and Web3, positioned between traditional online slot machines and video games. The experimental project regulating this segment is called Jeux à Objets Numériques Monétisables (JONUM) and is set for a 3-year period.

➡️ Explanation: the defining feature of these games is the ability to acquire monetizable digital objects, such as NFTs, or items based on blockchain technology. These assets may be traded on secondary markets; however, under the new framework they cannot be freely converted into monetary prizes.

➡️ Prohibitions and restrictions: under the new regime, operators may not offer cash prizes. The framework also regulates reward distribution by establishing limits on the total amount a player may receive in the form of digital assets over time.

➡️ Additional requirements:

⚠️ Operators must conduct age and identity verification at the time of account creation. Participation by minors is strictly prohibited.

⚠️ Companies seeking to offer JONUM products in France are required to submit a formal declaration to the ANJprior to commencing operations.

⚠️ They must ensure full transparency in reporting to the regulator, including activity logs, and provide traceability access when blockchain or digital wallets are used, enabling the ANJ to monitor financial flows.

➡️ Regulatory status: the new legal provisions have already been incorporated into the “Law on the Regulation of Security and the Digital Space” (SREN), adopted in May 2024.

#news #Europe #gambling

🏦 Payouter.com — reliable payment partner in the CIS and 🇮🇳India: Intent, UPI P2C conversion 54% on FTD