The Swiss gambling regulator, Gespa, has reportedly filed a criminal complaint with local authorities against the football governing body FIFA over its blockchain-based tokens. The regulator considers the sale of “right to buy tokens” on the FIFA Collect platform to be illegal gambling services.
The criminal complaint follows an ongoing investigation confirmed nearly two weeks ago by Gespa’s director, Manuel Richard, into whether the tokens violated gambling laws. At the time, the Swiss regulator said an initial assessment had not found enough reasons to drop the inquiry. As reported by Bitcoin.com News, the regulator was weighing the feasibility of taking legal action.
A recent Bloomberg report suggests Gespa has concluded that the tokens or their offering constitute a form of gambling.
“From a gambling law perspective, the offers in question are partly lotteries and partly sports betting (Right to Final),” a statement released on Oct. 17 is quoted as saying.
According to the report, Gespa is obligated to report violations of gambling regulation to prosecuting authorities. The regulator is also empowered to order entities in violation to halt the alleged wrongdoing.
Launched in 2024, the right-to-buy tokens give holders the right to purchase tickets to World Cup matches, provided their favorite team progresses. While the scheme has seen FIFA bring in millions of dollars, the prohibitive price and claims that the tokens only grant rights to the most expensive matches have sparked controversy.
Critics, meanwhile, contend that the design of the “right to buy” scheme severely limits the utility of the tokens, meaning only a tiny fraction of holders will successfully convert their rights into actual World Cup tickets. The inevitable result, they caution, will be a mass of disillusioned investors left holding worthless digital chips that have no post-event function or residual value.
- Who is taking legal action against FIFA in Switzerland? The Swiss gambling regulator, Gespa, has filed a criminal complaint against FIFA with local authorities in Switzerland.
- What is the legal problem with the FIFA tokens in Switzerland? Gespa deems the sale of the blockchain-based “right to buy tokens” on the FIFA Collect platform to be illegal, unlicensed gambling services under Swiss law.
- Why does the Swiss regulator consider the tokens illegal gambling? Gespa concluded that the tokens are a mix of illegal lotteries and sports betting because their outcome depends on chance after a monetary stake is paid.
- What is the potential consequence for FIFA’s token platform in Switzerland? Gespa is empowered to order FIFA to halt the sale of the tokens in the country, pending a decision by Swiss prosecuting authorities.
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