Regulation· ★★· bearish· October 8, 22:30

Genezys players say winnings can't be cashed out in euros after MiCA registration loss

—One player spent €2,200 on boosters and holds tokens and cards valued at over €8,500
—Genezys lost its PSAN registration on July 2 for lacking MiCA authorization
—Since September 14, $GNZ can only be swapped for GEMs or moved to an external wallet
—The company denies the allegations and threatens defamation lawsuits

Why it matters: The case highlights risks of game tokens issued without a MiCA license, as holders may lose any path to cash out into fiat.