CandleFocus China's Anti-Crypto Policies Threaten to Ripple Through Its Gaming Market
2024-09-19
Author: Content Editor
Chinese authorities have categorized cryptocurrencies as a tool for money laundering, which may have consequences for the country's gaming industry. Games like Metacene that use cryptocurrencies as in-game currency and games with play-to-earn features and non-fungible tokens (NFTs) may be affected. The Sandbox, developed by Animoca Brands, is one such game that could face increased scrutiny if in-game transactions are considered money laundering activities. This could lead to investigations of users and a decline in revenue for these games as players opt out to avoid potential probes.
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