Asia
Iskra x Agate Partnership Highlights Indonesia’s Growing Web 3 Presence and Game Market
Iskra, a leading Web 3 game platform, entered into a partnership with Agate, the largest video game studio in Indonesia, in September 2023. The collaboration is set to bring forth “Atma: Battle of Souls,” a supernatural techno-thriller RPG, immersing players in a world where advanced technology converges with ancient beliefs. The game is slated for release in the first half of 2024.
This collaboration taps into Indonesia’s thriving Web 3 and video game market, where the nation ranks 4th globally for time spent on games, averaging 8.54 hours per week. Indonesia’s dynamic gaming culture positions it as a prime market for Web 3 gaming expansion. Moreover, Indonesia boasts a video gaming revenue of 1.45 billion USD and a staggering 270 million game players.
The Indonesian government’s fervent support for blockchain technology is evident through their imminent trials in applying blockchain for public service use cases and the recent launch of a national crypto asset exchange, which reflects their commitment to fostering a conducive environment for technological innovation. Tuhu Nugraha’s perspective, the principal of the Indonesia Applied Digital Economy and Regulatory Network, highlighted the government’s collaborative approach to Web 3 technology. He emphasized that the government is actively engaged with various blockchain-focused associations, conducting experiments to understand the implications of blockchain technology across sectors.
“Recognizing Indonesia as a crucial market for growth in both Web 3 and video games. We are committed to working with major partners like Agate, and thankful for the support of the Indonesian government in furthering Web 3 gaming opportunities,” Ben Colayco, Chief Business Officer at Iskra, said.
Shieny Aprilia, CEO and Co-Founder of Agate, said: “This collaboration with Iskra is a significant step forward in our commitment to pushing the boundaries of Web 3 gaming. Together, we aim to create immersive and interactive experiences, through Atma: Battle of Souls, that will captivate gamers and enthusiasts worldwide, offering a glimpse into the exciting future of the decentralized gaming ecosystem.”
As plans for further localisation of game offerings and on-the-ground community-building initiatives gain momentum, the Web 3 game platform eagerly anticipates the warm embrace of even more users from the Southeast Asian nation. The collaboration between Iskra and Agate signifies not only a strategic alliance but also a collective pursuit of redefining the landscape of Web 3 gaming on a global scale.
Asia
Philippine Senator Pushes for Inquiry into Banks’ Role in Pogo Funding
Philippine Senator Sherwin Gatchalian has proposed Senate Resolution 1193 to investigate the failure of local banks to detect POGO-related suspicious transactions tied to criminal activities, following the case of former Bamban, Tarlac Mayor Alice Guo.
Gatchalian, in his resolution, highlighted bank transactions involving Guo’s companies, which amounted to hundreds of millions of pesos and allegedly funded the construction of a POGO hub in Bamban. The amount far exceeded the financial capacity reflected in the companies’ financial statements.
He pointed out a significant increase in cash flows, check disbursements, and transactions involving Guo’s accounts, peaking in 2020—an anomaly given that the COVID-19 pandemic had severely disrupted businesses and economies worldwide.
Gatchalian noted that despite these large transactions, the banking system failed to flag them as suspicious. He raised concerns about the banks’ inability to report such dubious activities, questioning the effectiveness of their internal controls and procedures for identifying and reporting suspicious behaviour.
The senator emphasised that financial institutions are responsible for analysing financial data to detect transactions that may indicate money laundering.
These circumstances, according to Gatchalian, raise doubts about the adequacy of current Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations and guidelines for banks and financial institutions.
Gatchalian also pointed out that the Philippines remains on the Financial Action Task Force (FATF) grey list. The country must improve its AML/CTF efforts, including prosecuting money laundering and terrorism financing, addressing beneficial ownership information and strengthening cross-border declaration measures.
While President Ferdinand Marcos Jr. has instructed all government agencies to meet the necessary requirements to remove the country from the FATF grey list, Gatchalian stressed that private sector compliance is equally crucial to strengthening the country’s AML/CFT regime. This includes increased adherence to obligations, such as reporting covered and suspicious transactions.
The post Philippine Senator Pushes for Inquiry into Banks’ Role in Pogo Funding appeared first on European Gaming Industry News.
Asia
Malaysia’s PAS Vows to Shut Genting Casino if Party Wins in Pahang State
An Islamic party said it was prepared to shut down Malaysia’s only casino if it wins control of the state where it is located, as the group looks to build its influence in the Southeast Asian nation.
A senior official from Parti Islam Se-Malaysia said if voters in central Pahang state – home to Genting Bhd.’s casino – wanted gambling to end, they should choose the Islamic party. The party is tapping into concerns by the country’s Muslim majority over gambling, which is forbidden in the Koran.
PAS has been growing its influence since the 2022 elections made it the biggest party in federal parliament. It already controls four of Malaysia’s 13 states and is looking to capture Pahang in the next national election that must be held by early 2028.
“Gambling is harmful, so we have to close it. But it must be in accordance with the laws and constitution,” Andansura Rabu, PAS’ deputy commissioner for Pahang, said at the party’s annual gathering.
The federal government decides on casino and gaming permits in Malaysia and gaming is one of the most regulated sectors in the country.
Genting’s casino contributed as much as US$1.16 billion annually to government coffers before the pandemic, according to a report by UOB Kay Hian, a Singapore-based brokerage. When PAS emerged as the biggest party after the 2022 elections, Genting shares slid but recovered as Anwar formed a unity government made up of liberals, a Chinese-dominant party and regional groups.
Still, the growing influence of the Islamic party in national politics has pushed Anwar to turn more conservative to burnish his credentials with voters. Last year his government cancelled a concert after two members of a British band The 1975 shared a same-sex kiss on stage, and banned Swatch watches that showcase Pride colours.
At the annual gathering held last weekend in Pahang, PAS has ruled out working with Anwar’s coalition and pledged to champion Islamic issues. Banning alcohol and gambling in Malaysia would be key, the party has said.
“Anything that can harm society, we must together support its destruction. This isn’t a matter of religion, it’s a social issue,” Andasura said.
The post Malaysia’s PAS Vows to Shut Genting Casino if Party Wins in Pahang State appeared first on European Gaming Industry News.
Asia
Chinese Football Bans 43 for Life Over Gambling and Match-Fixing Scandal
Chinese football authorities have banned 43 individuals for life due to their involvement in gambling and match-fixing scandals. The list includes three former China international footballers and South Korean World Cup player Son Jun-ho.
China’s extensive football corruption crackdown campaign has been ongoing since 2022. The National Sports General Administration and the Ministry of Public Security have led efforts to address issues of match-fixing and gambling in the sport. They have investigated over 120 matches, involving 83 players, referees, coaches and club officials. To date, 44 individuals have been sentenced, with 34 receiving prison terms.
The recent announcement of these lifetime bans came shortly after the national team’s 7-0 loss to Japan.
Son Jun-ho, who played for Shandong Taishan in the Chinese Super League and represented South Korea in the 2022 World Cup, has been accused of participating in match-fixing and accepting bribes. Son returned to South Korea in March 2024 after being detained in China since May 2023. The authorities initially stated that he was held “on suspicion of accepting bribes by non-state employees” but did not provide further details.
Other notable figures banned include Jin Jingdao, a former Shandong Taishan player, and Chinese international players Guo Tianyu and Gu Chao.
The post Chinese Football Bans 43 for Life Over Gambling and Match-Fixing Scandal appeared first on European Gaming Industry News.
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