The Government of India recently announced that the Ministry of Electronics and Information Technology (MeitY) will handle all matters related to online games, especially those with monetary risks. Now, the ministry has come up with a proposal that requires online gaming companies to pay more for users. Need to make Know Your Customer (KYC) mandatory and other things.
The proposal states that there should be a Self Regulatory Organization (SRO) for online games. Meity says that a self-regulatory organization should be started for the online gaming industry and KYC should be made mandatory for creating accounts in online games.
Online games offering win-win, any game that allows betting on the outcome is effectively disallowed. Union Minister of State for Electronics and IT Rajeev Chandrasekhar said, if you bet on the result of a game then it is wrong u/s 3(b) 10 of the IT Rules.
That being said, user verification can help prevent losses in online money risk games. As per the proposal, online games will have to display a registration mark on their games which is given by the SRO.
Gamers will be asked to do KYC first if they want to create an account and play online games. Children under the age of 18 may not play online money games if they do not have parental consent to play. This is just a proposal and the rules may be finalized by February. So, we will get to know more about this by next month.