🚨⚽ NFT FIFA UNDER ACCUSATION IN SWITZERLAND: GESPA REPORTS THE PLATFORM ON AVALANCHE BLOCKCHAIN ⚽🚨
The Swiss gambling regulatory authority, GESPA, has filed a criminal complaint against FIFA for alleged illegal gambling activities related to its FIFA Collect platform, based on the Avalanche blockchain.
According to GESPA, FIFA Collect — the official NFT project of the federation dedicated to the World Cup — allows users to participate in competitions and digital contests by wagering real money or purchased NFTs.
Winners can receive cash prizes, and the dynamics of the draws and rankings, according to the regulator, are based on elements of chance and luck, characteristics typical of lotteries and sports betting.
In Switzerland, however, any form of gambling must be authorized. The accusation claims that FIFA is operating without a license, thus violating federal gambling law and putting at risk both the protection of participants and the operational transparency of the platform.
The use of the Avalanche blockchain, while ensuring traceability and decentralization, does not exempt the project from compliance with local regulations.
The case highlights a growing tension between Web3 innovation and traditional gambling regulation: an increasing number of initiatives based on NFTs or crypto-rewards risk falling within the legal perimeter of games of chance, leading to potential penalties or closures.
