Marina Ferrari, the Secretary of State for Digital Affairs in France, has expressed her support for the country’s new Bill on Securing and Regulating the Digital Space (SREN Bill). In a statement shared on May 17, Ferrari asserted that the bill would safeguard minors in the digital space while also introducing regulations for innovative sectors such as Web3 gaming.
“I welcome the decision of the Constitutional Council on the law aimed at securing and regulating the digital space,” said Ferrari. “It validates constructive and pragmatic government and parliamentary work. The main objectives of the bill are considered to be consistent with the Constitution, and firstly the strengthening of the protection of minors against pornography. Finally, the emerging economic sector of Web3 games will be able to develop within an experimental framework that protects its users while promoting innovation.”
According to Connect on Tech, the French National Assembly adopted the SREN Bill on April 10, following its approval by the Senate a week earlier. The bill not only establishes protections for children online but also positions France as one of the pioneering countries to formulate specific regulations for games featuring monetizable digital objects like nonfungible tokens (NFTs). Since 2022, virtual games incorporating blockchain-based assets such as NFTs have surged in popularity. Recognizing their significant potential within the French video gaming sector, the French legislature has acted accordingly. As of 2023, this emerging sector was valued at over 6 billion euros.
Bits of Blocks reports that the SREN Bill introduces a new category of video games under French law: “jeux à objets numériques monétisables,” or “JONUM.” These regulations define monetizable objects as game elements given to players that can be directly or indirectly transferred for consideration to third parties. The bill proposes an experimental period of three years for this type of gaming. Halfway through this period, the French government will evaluate the bill’s effectiveness, including its safeguards against activities such as money laundering.
Yi He, co-founder of Binance—the world’s largest cryptocurrency exchange—said that transitioning from Web2 to Web3 gaming presents an opportunity to draw more people into the blockchain ecosystem. This sentiment was shared in a post on Binance’s official website.
As per information from the European Union, Ferrari plays a crucial role in shaping policies related to enhancing digital skills and technology adoption in her capacity as Secretary of State for Digital Affairs. Furthermore, Ferrari is tasked with preparing and coordinating France’s policies on “digital transformation.”
