What licenses and qualifications are required to operate a blockchain gamefi?

Janak9955

In terms of transaction scenarios, blockchain games (chain games) may involve financial transactions related to the buying and selling of tokens, NFTs, and other virtual assets in the game. However, in reality, the trading of these virtual currencies or assets does not occur within the embedded functions of the blockchain game but is instead completed through centralized exchanges (CEX) or decentralized exchanges (DEX). Therefore, the application for financial licenses is not closely related to the blockchain game itself.

From a regulatory perspective, regarding the regulation of virtual currencies or virtual assets, the primary regulatory authority in Hong Kong is the Securities and Futures Commission (SFC). Looking at the regulated activities and service scope related to virtual assets covered by SFC's publicly disclosed Type 1 license, Type 4 license, Type 7 license, Type 9 license, and VASP license (see the table below), the regulatory focus is limited to financial transaction scenarios. The purpose of regulation is to protect investor rights and maintain financial order. Players in blockchain games are generally difficult to be recognized as investors, and their trading of game tokens is unlikely to significantly impact financial order in the general sense. Therefore, even if blockchain games have embedded functions for the buying and selling of virtual currencies or assets, their relatively minor activities are unlikely to attract significant attention from the SFC.

Jatin255

I'm not well-versed in NFT matters either; my knowledge is lacking.

Jafar224

So NFTs can be bought in this way, I really can't keep up with the times.

Isha000

With the increasing convenience of NFTs, acceptance is likely to be achieved.

Jiten171

It seems like licenses are also required for this thing.