[Game] Review of Legality of Blockchain-Based Game Service

Block chain based game platform A has commissioned a legal review of the legitimacy of providing social casino games that utilize specific tokens based on block chain.

Regarding P2E games, which are games in which block chain tokens are used and these tokens can be converted into cash through exchanges, we comprehensively reviewed the opinions of the Game Contents Committee and recent precedents to provide a result regarding the legitimacy of the service.

We provided the contents of a review of related laws such as the “Act on Promotion of Game Industry” and the “Criminal Act” regarding potential legal risks that may occur when distributing this game on the client’s platform.

According to Article 21(1) of the “Act on Promotion of Game Industry,” game products must obtain a rating upon distribution or provision for use domestically. However, since block chain games still lack clear review regulations or standards, you feel difficulties in preparation and inquire to Game-Specialized Law Firm Veat.

Because improper preparation can lead to a rejection of a rating determination, it is advisable to receive legal review through a Game-Specialized Law Firm before classification to accurately confirm it.

Especially for block chain based games, it is more effective to proceed with rating classification smoothly if you understand both “game” and “block chain service” so it is advisable to receive legal review from a game-specialized attorney.

Law firm Veat is a law firm with “engineering-related lawyers” positioned within it, introduced as a law firm to be noted in the “THE LEGAL 500” in the field of startup advisory for technology-based startups, and provides assistance as a consulting/advisor attorney for various block chain-based businesses based on extensive experience in handling numerous block chain-related cases.

If you need a legal review regarding game and block chain services, please contact Law firm Veat.

Thank you.

Law firm Veat.