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To get rid of the money laundering problem going on in the online gaming industry, the government is now seriously considering appointing a referee or rather a regulator.
mobile in the country gaming industry (Mobile Gaming Industry) Growing at the rate of 22 per cent annual growth without any rules and regulations. The government is now seriously considering appointing a referee or rather a regulator for the online gaming industry. Money laundering in this sector of Rs 14,300 crore (Money Laundering) There is a big problem. And this is the reason why the government is taking steps to keep an eye on it. The central body regulating the e-gaming sector has clear rules and regulations for the same. (Rules and Regulation) Will make Currently, there is no such law in the country that prevents foreign companies from launching their gaming products without a presence in India.
Meaning any foreign company can launch its gaming platform here without coming to India. Therefore, it has become mandatory to make laws for such companies. It is also to be seen that the online gaming industry is gaining a lot of popularity in the country.
India among top 5 mobile gaming markets in the world
India is also included in the world’s top-5 mobile gaming markets. From 2014 to 2020, venture capital companies have invested a whopping $350 million in Indian online gaming start-ups. This sector is growing at the rate of 22% annual growth. E-Gaming Federation, an independent self-regulated organization of the online gaming industry, is working closely with experts from the US and Europe to create transparent, professional and ethical operating standards for the online gaming industry.
The purpose of this entire exercise is to keep an eye on the gaming industry. Along with this, it is also to be ensured that the companies follow the KYC rules for the customers and also ensure that the player visiting their platform is of 18 years of age or more. So that the future children of the country can be saved from wasting their lives by falling into the trap of online gaming.