The National Agency for Advanced Projects (NAPP) addressed several frequently asked questions regarding the legal status and regulation of the popular Telegram game, Hamster Kombat, on June 25. This clarification is particularly pertinent given the rising popularity of Play-to-Earn (P2E) games and the increasing integration of digital assets into gaming. The NAPP's responses shed light on whether Uzbeks can legally engage in the purchase or sale of the game's accounting units (coins), the legality of Play-to-Earn activities in Uzbekistan, and the classification of these coins as crypto-assets.
Is Hamster Kombat a Play-to-Earn Game?
Play-to-Earn games allow players to earn real money or other valuable rewards through gameplay. However, according to the NAPP, Hamster Kombat does not fall under this category. The primary distinction lies in the utility and collateral of the in-game coins. While Play-to-Earn games typically offer utilitarian crypto-assets with tangible value and practical applications, the coins in Hamster Kombat lack such characteristics. As a result, players cannot earn real-world financial benefits from their in-game achievements, disqualifying Hamster Kombat from being considered a Play-to-Earn game.
Are Hamster Kombat Coins Considered Crypto-Assets?
Under Uzbek legislation, a crypto-asset is defined as a property right, represented by a set of digital records in a blockchain, possessing both value and ownership. Currently, the accounting units (coins) accumulated in Hamster Kombat do not meet these criteria. They do not utilize blockchain technology and hence are not recognized as crypto-assets under the current legal framework.
However, the NAPP has acknowledged the potential for these coins to transition onto the blockchain in the future. Should this occur, the coins would then meet the criteria for crypto-assets and would need to adhere to relevant regulatory requirements.
Legal Implications of Trading Hamster Kombat Coins
The possibility of Hamster Kombat coins being listed on crypto platforms opens up questions about their legal trade. If these coins are recognized as crypto-assets and listed on such platforms, their purchase or sale would be legally permissible. However, this would need to occur through national service providers authorized for crypto-asset circulation. Furthermore, the coins would have to be included in the quotation list of a crypto exchange or within the trading basket of a crypto store.
The NAPP has also noted a common trend in the valuation of newly listed crypto-assets: many tend to depreciate shortly after their listing due to a lack of functional utility. This trend could influence the market behavior of Hamster Kombat coins if they were to be listed.
Currently, since the accounting units in Hamster Kombat do not operate on a blockchain, their regulation falls outside the jurisdiction of the NAPP. This means that, as long as the game's in-game currency remains off the blockchain, the NAPP does not regulate their turnover.
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