Paid Racing Jurisdiction Update
For the past two years, we have maintained a close and collaborative relationship with regulators globally to ensure that ZED RUN remains compliant, safe and secure for all. This collaboration is crucial because Web3 is a cutting-edge space, still in its early stages, and regulatory bodies frequently require support to understand the nuances of the space, and how web3, and web3 projects, fit within legislation designed for more traditional environments.
Currently, the Australian Federal Regulator has been working with Virtually Human Studio and as part of our commitment to continue to work harmoniously with regulatory bodies and their interpretation of the legislation, and to set the foundation for other regulated opportunities, we have made a decision to implement paid racing restrictions for participants located in Australia for all states and territories.
These changes are scheduled to come into effect by October 2, 2023. To be clear, users located in Australia can still enter into racing, breed, trade racehorses and craft XP.
Looking to the future, we remain optimistic that as web3 and ZED RUN continue to evolve, there will be opportunities for further collaboration and growth within the regulatory environment that will benefit our entire community.
We are committed to continue working closely with regulators and supporting them to help this space evolve. Navigating these challenges and opportunities will ensure that ZED RUN remains an exciting and rewarding experience for all, globally.
Important
We will continue to monitor and update our region restrictions as necessary. If you are affected by Australian region restrictions, you can still enter free racing including Maidens and Weekly Premiers, breeding and the Lending Marketplace on ZED RUN.