By Soumya Ranjan The purpose of the bill is to promote online social games and e-sports while outlawing harmful online money gaming services, ads, and associated financial transactions.
Online Gaming Bill: The Rajya Sabha approved the Promotion and Regulation of Online Gaming Bill on Thursday, August 21, and President Droupadi Murmu signed it into law on Friday. On Wednesday, the Lok Sabha approved the bill.
It was introduced to promote online social games and e-sports while outlawing damaging online money gaming services, their associated commercials, and financial transactions.
All online money-gaming platforms are prohibited by the Promotion and Regulation of Online Gaming Bill, and those who facilitate them risk fines of up to ₹1 crore and imprisonment of up to three years. Even using advertisements to promote these platforms can result in fines of up to ₹50 lakh and two years in jail.
It forbids online gaming for financial gain while promoting e-sports and social games.
This law will assist in giving e-sports legal support. Previously, e-sports had no legal support.
The Ministry of Youth Affairs and Sports will create a specific framework for e-sports promotion.
Online social games will also be promoted by the government.
Earlier on Friday morning, S Krishnan, Secretary, Ministry of Electronics and IT, told ANI that a notification announcing the Bill’s effective date would be sent out after the President signs the bill into law.
Additionally, we must draft the rules under the bill and publish the rules that must be drafted. Because of the way the bill is written, even in the absence of regulations, some of its provisions may be implemented without them. However, we will decide whether to do so,” Krishnan stated.
The government thinks that by outlawing online money gaming, the negative effects of addiction, monetary losses, and even more severe outcomes like suicides can be avoided.
According to the ANI report, which cited sources, there were allegations of terror financing and money laundering.
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