NFT Games Are Not to Be Considered Gambling, Votes French National Assembly

The French National Assembly has voted in favor of the so-called Sorare law, which introduces the first dedicated regulatory framework for video games involving NFTs (non-fungible tokens) and crypto-powered monetization models. This law is part of the broader Digital Space Regulation Law, known as SREN.

The legislation, referred to as the "Jonum regime," is designed to strike a balance between promoting innovation among French startups in the crypto gaming sector and ensuring user protection. Importantly, this law provides a legal definition for Jonum, distinguishing crypto games from traditional video games and gambling.

Karima Lachgar, CEO and head of group legal and regulatory strategy at Olky Wallet, expressed that this legislation could help legitimize the fast-growing crypto gaming sector, which has faced issues related to scams in recent years.

However, the text must now be examined by the Constitutional Council, which has the authority to review and potentially reject it. Some deputies are still hoping for the law's rejection.

If the law is ultimately approved, there is speculation that gambling platforms might explore opportunities in the play-to-earn and Web3 sectors, similar to how the state-controlled betting system, Pari Mutuel Urbain (PMU), has already entered the crypto space with its fantasy.

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