That is that online gambling is strictly regulated and many forms of gambling are considered highly illegal. There is, however, one unique challenge in South Korea.
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Sorare Skirts Regulatory Concerns Surrounding Gambling and Crypto in South KoreaĪlthough some countries around the world are still slowly coming around to cryptocurrency in terms of understanding how to regulate it and allowing individuals to have access to it above board, South Korea has always been one of the more progressive countries in terms of the way the government and its people view Bitcoin and digital assets. Juventus star Cristiano Ronaldo’s digital token is currently selling for more than €14,000 worth of cryptocurrency. Collectors of these player tokens are already cashing in too.
Juventus, Napoli and Atletico Madrid players are already available on the platform. While the deal is a groundbreaking first for the K League, it’s not Sorare’s first deal with a major soccer league.
Both the league and the company managing the blockchain project are hoping that both digital collectibles and the K League itself gain popularity as a result of the deal. Players in the top tier of the league are now available, but the fantasy soccer game doesn’t charge participants any money to get started. Players from the top tier of South Korea’s K League are now etched in digital history as tradable player tokens on the Ethereum blockchain thanks to a deal inked with a company called Sorare.
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