Uzbekistan's Regulator Confirms Legality of Hamster Kombat Game, Cautions on Token Sales
Summary:
Uzbekistan's National Agency for Perspective Projects (NAPP) clarifies that playing the Hamster Kombat Telegram game is not illegal, despite local media claims. While the game's tokens do not qualify as cryptocurrencies and don't fall under the agency's jurisdiction, NAPP notes that selling these tokens could become complex due to local regulations. Players can only sell tokens once approved as a crypto asset and listed on a regulated domestic exchange. This comes after reports of legal action against players attempting to cash in-game tokens.
Despite rumors spreading in the local press, Uzbekistan's financial authorities have confirmed that playing the Hamster Kombat clicker game on Telegram is not illegal. The National Agency for Perspective Projects (NAPP), a key regulator responsible for both e-commerce and the cryptocurrency sector in Uzbekistan, clarified the game's legal standing in a June 25 notice.
Hamster Kombat coins, it was stressed, do not currently fall under the definition of cryptocurrencies. Their nature is not like other play-to-earn games where players receive valuable, tradable assets such as cryptocurrencies or non-fungible tokens (NFTs). In those games, like Axie Infinity, players can amass collectible creatures known as Axies for battling or trading.
In contrast, the NAPP has reiterated that because Hamster Kombat's tokens do not qualify as real cryptocurrencies and are not blockchain-based, they do not fall under the agency's jurisdiction - and Uzbekistan's citizens are permitted to play the game and gather these tokens.
However, the regulating body also noted that it’s plausible that Hamster Kombat coins could shift to a blockchain platform in the future, thereby paving their way to becoming a cryptocurrency.
Despite the freedom to collect tokens in the Hamster Kombat game, the issue of selling these tokens could become complicated due to local legislation. As per the NAPP, players can only sell their Hamster Kombat tokens once they gain approval as a crypto asset and get listed on a regulated domestic exchange. But the NAPP also warned that such crypto assets often decline in value shortly after listing, due to a lack of meaningful functionality.
This announcement comes days after local media outlet Uzbek-MDK claimed that Uzbekistan's prosecutors would put Hamster Combat players in jail for trying to cash in their in-game tokens. Prior to this, a local court is said to have sentenced a 24-year-old man to 10 days of administrative arrest for selling Notcoin (NOT) tokens valued at 800,000 Uzbekistan soms, or $63.
Published At
6/25/2024 2:59:16 PM
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