Crypto/ Online Gaming Disputes
From the volatility of cryptocurrency values and security vulnerabilities to the complexities of scalability and regulation in online gaming, the world of the blockchain industry is not without its challenges. Furthermore, 0.15 percent of Bitcoin transactions that were known to have taken place in 2021 were connected to illegal activities like money laundering, terrorism financing, and cybercrime.
In addition, Section 66 of the IT Act addresses computer-related crimes, while Sections 67, 67A, and 67B address the authority to enact regulations pertaining to online gaming.
Benefit of this Service
As different countries embrace the opportunities offered by the blockchain industry and online gaming, our team at Anill Mehta and Partners aims to anticipate and address the potential disputes related to cryptocurrency and online gaming that can arise in countries like India, London, and parts of the Middle East.
- Lack of Regulatory Clarity
- Fraudulent Schemes and Scams
- Contractual Breaches
- Intellectual Property Infringement
- Payment and Withdrawal Issues
- Player Misconduct and Cheating
- Ambiguous Terms and Conditions
- Technical Glitches and Platform Failures
- Inadequate Customer Support
- Lack of User Awareness
- Financial Losses
- Legal Consequences
- Investor Confidence Erosion
- Damage to Industry Reputation
- Decreased User Engagement
- Disruption of Platform Operations
- Psychological Impact on Individuals
- Stifled Innovation and Development
- Slowed Adoption and Growth
- Negative Ripple Effects
- Establishing a comprehensive regulatory framework that addresses issues related to cryptocurrencies and online gaming.
- Strengthening consumer protection measures and implementing stricter regulations to mitigate the risks of fraud and scams.
- Ensuring transparent and enforceable contracts, backed by appropriate legal frameworks.