GameFi developers could be facing big fines and hard time
2022.08.25 04:14
GameFi developers could be facing big fines and hard time
Are cryptocurrency games innocent fun? Or are they Ponzi schemes facing an imminent crackdown by regulators in the United States?
Tokens related to cryptocurrency games — known colloquially as “GameFi” — were worth a cumulative total of nearly $10 billion as of mid-August, give or take a few billion. (The number may vary depending on whether you want to include partially finished projects, how you count the number of tokens that projects technically have in circulation, and so on.) In that sense, whether the games are legal is a $10 billion question that few investors have considered. And that’s an oversight they may soon regret.
Rudy Takala is the opinion editor at Cointelegraph. He worked formerly as an editor or reporter in newsrooms that include Fox News, The Hill, and the Washington Examiner. He holds a master’s degree in political communication from American University in Washington, D.C.
