Government to regulate All Real-Money Online Games
By MYBRANDBOOK
India’s plan to regulate online gaming will apply to all real-money games after the PM office overruled a proposal to only regulate games of skill and leave out games of chance.
An Indian panel proposed a new body to decide whether a game involves skill or chance, and then let skill games be governed by planned federal rules that call for registration requirements, know-your-customer norms and a grievance redress mechanism.
The drafting of the new regulations comes amid growing concerns that the proliferation of such games, particularly among young people, had led to addiction and financial losses, with some reported cases of suicide.
Chance games - that are mostly banned across India - were set to stay under the purview of individual state governments which would be free to regulate them. But an official from the Prime Minister Narendra Modi’s office objected to such a differentiation, calling for expanded oversight on all types of games.
The government panel's August report had recommended that the new rules should include so-called “de-addiction measures” such as periodic warnings and advisories and fixing deposit and withdrawal limits.
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