In-depth discussions have been underway since March between the ANJ and SORARE regarding the tournaments that the company organises using the virtual cards it issues and markets. At its meeting at the end of September, the ANJ Board considered that the serious doubts regarding the legislation on gambling that this part of the offer raised justified a rapid change in the offer. The solution proposed by SORARE, consisting in of reinforcing free access to these tournaments, was accepted, under certain conditions, by the ANJ.
Following a period of in-depth discussions between the ANJ and the company SORARE that began in March, the ANJ Board considered that the serious doubts regarding the legislation on gambling raised by part of the company’s offer, that of card tournaments, justified its rapid development.
The company responded to this request by proposing a solution that strengthens free access to these tournaments, a solution that is based on a possibility offered by positive law.
This response is a transitional but essential step before the adoption of a permanent solution which requires an adaptation of the legislation to bring these new Web3 related activities within the framework of the regulation operated by the ANJ but with specific modalities.
During this transitional period, the ANJ will set up an ad hoc control mechanism for SORARE’s activity and will verify, on the one hand, the proper implementation of the “free access” solution and, on the other hand, the company’s compliance with the objectives of preventing excessive gambling and protecting minors, integrity and transparency of gambling operations and the fight against fraud and money laundering.
The solution adopted constitutes a necessary regulatory response to the offer proposed by SORARE and, more generally, to the emergence of new comparable offers, with a view to effectively protecting the public but also to supporting innovation.
Such a change in the SORARE offer must be operational by 31 March next year at the latest, after which the Authority reserves the right to use the powers it has under the law.