Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 17

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 17
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 licenses and approvals that we have previously obtained,
or that once they expire, we will be able to renew them. We cannot be sure that its interpretations of the rules and their exemptions
have always been or will be consistent with those of the local regulators. As we expand our businesses to gaming development area, we
may be required to obtain new licenses and will be subject to additional laws and regulations in the markets we plan to operate in. For
example, depending on the types of games that we offer and distribute to the customers and the way of distribution, we may need to obtain
permits or licenses under the Gambling Control Act 2022 of Singapore and the Films Act 1981 of Singapore. Please refer to “Business  -   Regulations
Applicable to the Company” for further information.

Our business is subject to
regulations from various regulators within each jurisdiction it operates in, and such regulators may not always act in concert. As a result,
we may be subject to requirements which separately may not be materially adverse to us but when taken together could have a material impact
on us. In addition, we are subject to differing, and sometimes conflicting, laws and regulations in the markets in which it operates.

In addition, since we operate
in different jurisdictions in Asia, we are subject to the risk that regulatory scrutiny or actions in one country may lead to other regulators
taking similar actions. We may enter into exclusive regional partnership agreements with our suppliers or customers. Although we are not
aware of any violations of competition laws in connection with our business model, we cannot assure you that we will not be subject to
any inquiry, investigation, or even penalty from regulatory agencies in the future. In the event that a regulatory agency in one of the
countries or jurisdictions initiates action against us, it may lead to other regulators taking similar actions.

Our actual or perceived failure
to comply with applicable regulation could expose it to regulatory actions, including, but not limited to, potential fines, orders to
temporarily or permanently cease all or some of our business activities. Any such actions could materially and adversely affect our business,
financial condition, results of operations and prospects.

Our international operations are, and our
strategy to expand internationally will be, subject to increased challenges and risks.

Continuing to expand our
business to attract gamers outside of Asia is an important growth strategy of ours. Our ability to expand our business and to attract
gamers and talented employees in other international markets we may enter will require considerable management attention and resources