Singapore Forms New Regulatory Body To Combat Loot Boxes
Singapore has formed a new central body that aims to handle emerging gambling products, including loot boxes.
The Gambling Regulatory Authority (GRA) will regulate loot boxes in online services as well as other gambling services like casinos, lotteries and sports betting.
Josephine Teo, Singapore’s Second Minister for Home Affairs, said that the formation of the GRA is an important step for gambling regulation in Singapore.
“Shifting consumer preferences have also given rise to new gambling products and the boundaries between gambling and gaming have blurred,” she said.
With the rise of loot boxes and games with chance-based mechanics, it would only be a matter of time before Malaysia sees a similar regulatory body tackle the issue as well.