Korean authorities recommend Apple and Google ban P2E games

The Ministry of Culture, Sports and Tourism of Korea has demanded that Google and Apple block in mobile marketplaces any games that operate on a Play-to-Earn (P2E) model. Naver reports.

The decision was made by the Games Management Committee formed within the ministry.

The initiative is aimed at fighting the spread of speculative money-earning schemes that circumvent the law. According to the publication, the mandate effectively imposes a ban on P2E game developers.

Starting in April, they have sought through the courts to overturn the assigned age rating. Previously, authorities introduced this criterion to limit such applications on marketplaces for the country's citizens.

In June, the game The Fivestars for the Klaytn blockchain had its ban lifted. It is expected to set a precedent for other developers.

According to a committee spokesperson, its members follow a Supreme Court ruling, which held that prizes won in games cannot exceed 10,000 Korean won ($8.42) in each individual case.

“We deem it appropriate to ban P2E games from receiving age ratings, because monetary rewards in games can be interpreted as prizes,” the source explained.

According to Cointelegraph, the Committee's current stance will have negative consequences for all P2E games, including the popular Axie Infinity and Splinterlands, according to DappRadar.

In November, the South Korean financial regulator said there may be taxation of operations with NFT.

Earlier, SK Telecom's division demanded from portfolio companies with a presence in the metaverse.

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