SEC gives green light to the world-first cross-game currency

Quarters is the first cross-platform premium game token, which is meant ‘for entertainment purposes only,’ and will never be exchanged or sold for financial value. Through this no-action letter, SEC gives PoQ the green light to start selling its game tokens, which are now legal for all players to buy and use as a consumer product in the US. However, PoQ has not yet released a full list of games where Quarters could be used.

In order for the no-action letter to be fully effective, PoQ will need to ensure that, for an initial period, players won’t sell, buy, or exchange tokens with each other. This can only be done with developers or ‘influencers,’ who will have to go through KYC and AML checks before they can get an approved account and start selling tokens. Moreover, people will be able to buy Quarters through credit card, Apple App Store, and Google Play. Quarters will be available via the API for publishers and developers, who will be able to earn revenue by exchanging Quarters spent by players for Ethereum.