The South Korean government has demanded that Apple and Google remove monetary games from their app stores that violate local laws. Remember that in such games, users buy in-game chips with real money and receive winnings in cryptocurrency.
Korean authorities say such games are against local law as they allow users to win significantly more than the allowed $ 8.24 in a single payment. While in-game tokens do not officially qualify as a “cash prize”, the government says this is just a formality players have successfully bypassed.
In addition, the country’s authorities say that “play to earn” games are popular with cryptocurrency fans. The requirement to remove them from app stores demonstrates the country’s position on digital money. Let us emphasize that this position is not new to South Korea. Until 2011, the country had a total ban on games in the App Store.