Swiss Regulator Gespa Probes FIFA’s Digital Collectibles for Gambling Law Compliance
According to Switzerland’s GESPA, FIFA’s collect.fifa.com platform offered unlicensed gambling-like NFT competitions requiring monetary wagers, violating national gambling regulations.
NFT
Fact Check
All provided evidence from multiple sources explicitly and consistently confirms that Switzerland's gambling regulator, Gespa, has initiated a preliminary probe into FIFA's digital collectibles (also referred to as tokens or NFTs) to determine if they comply with the country's gambling laws.
Summary
Switzerland’s gambling regulator GESPA has lodged a criminal complaint against FIFA, alleging that its blockchain-based NFT platform, collect.fifa.com, operated illegal gambling services in the country. The platform reportedly hosted competitions, drops, and challenges that required monetary stakes, with outcomes determined by random draws. GESPA identified the service in October and concluded it lacked the required Swiss gambling license. The filing marks a significant step in Switzerland’s efforts to regulate blockchain-related gaming and NFT activities.
Terms & Concepts
- NFT: Non-fungible token; a unique digital asset recorded on a blockchain that represents ownership or proof of authenticity of digital items.
- Blockchain: A decentralized digital ledger technology used to securely record and verify transactions across a network.