NFT Games Are Not to Be Considered Gambling, Votes French National Assembly
On Tuesday, the French National Assembly passed the so-called Sorare law, introducing the first dedicated regulatory framework for video games tapping NFTs and crypto-powered monetization schemes.
It was voted as part of the broader Digital Space Regulation Law–or SREN–in the French National Assembly, involving 561 members who cast their votes.
Among them, 437 members voted for its adoption, while 77 members voted against it.
Referred to as the “Jonum regime,” which stands for games with monetizable digital objects, the text seeks to balance fostering innovation among French startups and ensuring user protection.
For the first time in legal terms, this legislation defines Jonum, paving the way for a potential new regulatory framework specifically tailored to crypto games, distinct from gambling and traditional video games.
“SREN may contribute to legitimize the sector which is fast-growing and had suffered from scams the last few years,” Karima Lachgar, CEO and head of group legal and regulatory strategy at Olky Wallet, told Decrypt.
Now, the text must undergo examination by the Constitutional Council, which has the authority to review and potentially reject it–something several deputies are still hoping for.