Hamster Kombat Latest: Uzbekistan Regulators Say Viral Telegram Game Is Not Illegal 

Uzbekistan regulators have said that the popular Hamster Kombat clicker game is not banned in the country, but withdrawing in-game coins could have legal consequences.

This Telegram-based game has amassed over 200 million players globally within weeks as its popularity soars across Russia, Ukraine, Uzbekistan, and the rest of Eastern Europe.

The Uzbekistan National Agency for Perspective Projects (NAPP), which regulates the crypto industry, noted that Hamster Kombat was not a play-to-earn game. The in-game coins earned by players lack collateral and utility, unlike cryptocurrencies.

Furthermore, the in-game coins are not based on blockchain, making them non-crypto assets. However, according to the regulator, if Hamster Kombat decides to adopt blockchain technology, these coins will qualify as crypto assets.

The NAPP noted that it can only regulate the game if it switches to blockchain.

“As long as the accounting units of the Hamster Kombat game do not have a blockchain, the regulation of their circulation is not within the competence of the Agency,” it stated.

Mid-this month, Uzbekistan warned that Hamster Kombat players who withdraw in-game coins to crypto exchanges or exchange for fiat faced a 15-day imprisonment.

Hamster Kombat Popularity Soars

Hamster Kombat hit 200 million users globally recently, a number that doubled in barely two weeks.

Its explosive growth comes amid the highly anticipated airdrop happening in July, during which players will receive tokens depending on the points accumulated in the game.

Hamster Kombat is the hottest new game on Telegram and follows hard on the heels of Notcoin, another gaming app based on Telegram that saw massive success after its launch. The game held an airdrop on May 16, with the NOT token market cap now at $1.6 billion.

The hype around the viral game may have a spillover effect on GameFi cryptos, as well as surging presales like PlayDoge (PLAY), eTukTuk (TUK), Mega Dice (DICE) and Sponge V2 (SPONGE), all of which offer games that appeal to investors.

Also Read:

  • Best Cryptocurrencies to Invest in Right Now June 26 – Beam, VeChain, WEMIX
  • Meme Coins Outperform Other Cryptos With 1,834% Return In First Half, Outpacing RWA, AI And DePIN Sectors
  • Brett Price Prediction: Top-Performer BRETT Surges 14%, But Experts Say Consider This New Base Meme Coin For 100X Potential

Comments

Post a Comment

Popular posts from this blog

Quant Pauses Over $115, But Tends To Move In A Range

Image
Jan 06, 2024 at 10:09 // Price Author Coin Idol The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price Analysis by Coinidol.com. Long-term Quant price prediction: ranging This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average lines,
Read more

Singapore Teams Up With Japan, Swiss, UK Bodies on Crypto Regulation

The Monetary Authority of Singapore (MAS) announced it has partnered with regulators in Japan, Switzerland, and the UK. The MAS said the policymaker group will work to advance digital asset innovation and regulation discussions.  The regulator said the partnership is necessary as its digital asset pilot programs grow in scale and sophistication. The Monetary Authority of Singapore (MAS) announced on October 30 that it has partnered with authorities in Japan, Switzerland, and the United Kingdom to foster digital asset innovation and adoption. Indeed, the MAS, in its statement, said it will work hand in hand with the Financial Services Agency (FSA) of Japan, the Swiss Financial Market Supervisory Authority (FINMA), and the United Kingdom’s Financial Conduct Authority (FCA). Per the announcement, the bodies will advance discussions around digital asset growth, risks, and regulation.  The MAS said the partnership would help it advance pilot programs for digit
Read more

Netflix’s Bitconned Exposes Crypto’s Dark Side, Unveils Centra Tech’s Scheme

Netflix documentary “Bitconned” unveils details of a crypto scam orchestrated by Centra Tech. The documentary highlights risks in the unregulated crypto space, emphasizing deceptive projects. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. In the recent documentary release from Netflix titled “Bitconned,” viewers are presented with a comprehensive exploration of the nefarious world of crypto, unraveling a tale of deception, fraud, and the ominous rise of dubious crypto ventures. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. Touted as a revolutionary force in the crypto landscape, Centra Tech, was, in reality, a house of cards built on deceit.  The documentary uncovers the mechanics behind the scenes, showing how Centra Tech managed to rake in millions of dollars daily. Ray Trapani, along with co-founders Sohrab Sharma and Robert Farkas, embarke
Read more