[REQ_ERR: 401] [KTrafficClient] Something is wrong. Enable debug mode to see the reason. Legal – Crypto Shill https://cryptoshill.com Only the Best Crypto Casinos, Dice Games, Futures Markets | Rank and Review Mon, 17 Feb 2020 18:53:07 +0000 en-CA hourly 1 10-Year Prison Term For Crypto Users in India? FUD or Not? https://cryptoshill.com/legal/10-year-prison-term-for-crypto-users-in-india-fud-or-not/ https://cryptoshill.com/legal/10-year-prison-term-for-crypto-users-in-india-fud-or-not/#respond Wed, 12 Jun 2019 04:23:10 +0000 https://cryptoshill.com/?p=5242

New Delhi: An ongoing draft charge that proposes a lengthy jail term for anybody using crypto is creating a ruckus in India and in the community at its core, but maybe it's a whole lot of noise over nothing. Bloomberg referenced the jail term in a report on 7 June, following a 26 April report […]

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New Delhi: An ongoing draft charge that proposes a lengthy jail term for anybody using crypto is creating a ruckus in India and in the community at its core, but maybe it's a whole lot of noise over nothing.

Bloomberg referenced the jail term in a report on 7 June, following a 26 April report in The Economic Times, which discussed the proposed enactment — the complete banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019 — being “sent to pertinent government offices”.

In any case, as indicated by a privilege to data (RTI) demand documented on 4 June by Varun Sethi, a legal counselor having some expertise in blockchain, the Reserve Bank of India (RBI) says it isn't aware of everything in the proposed boycott.

The RBI, be that as it may, has not at all endorsed the utilization of bitcoins, and the clearance of bitcoins right now is heavily burdened in India. Especially at the fiat on/off ramp and other fintech rails. Remember, there are an expected three million bitcoins available for use in India. No small amount.

In any case, cryptocurency specialists accept that fussing over the draft at this stage may not help. “It's too untimely to even think about coming to a resolution on this,” said Vishal Gupta, CEO of numerous crypto-based businesses, like SearchTrade and Binex. He added “this is a private bill right now”.

Gupta likewise said that while an area of the bill has been discussed, it really says that illicit dealings in digital forms of money will be unlawful — which resembles saying paying rupees for unlawful exercises will be illicit. Hmm?

Sathvik Vishwanath, CEO and prime supporter, Unocoin, said he doesn't figure the bill will most likely stop the dealings in crypto regardless of whether it comes with an impact.

“Exchanges are totally on the web,” he said. “It's difficult to tell where it's going on from.”

As indicated by Vishwanath, it would be an impractical notion for the legislature to boycott crypto in India, since it may drive exchanges underground. For whatever length of time that there's an approach to bring this cash into managed implies, there's an approach to follow it and stop unlawful exercises, he stated, including that last December's RBI request, which restricted elements controlled by it to manage, or give administrations to people or organizations managing in virtual monetary standards, many individuals had moved their bitcoin and other cryptocurrency out of the country.

This is by all accounts a significant point. Ashish Singh, CEO of bZird, an advanced promoting firm, said numerous digital money clients in India keep their cash abroad. Singhhas said the bill may not hurt the “huge clients”.

Numerous Indian clients don't really hold digital money accounts in their own name. Rather, they have companions or people in different nations who purchase and sell crypto for them, and send the cash through other means, for example, PayPal.

A client on a digital currency WhatsApp gathering called Crypto Tech Stories expressed: “In this way, starting at now, on the off chance that we need to get withdrawal, need to get it from somebody in US or different countries.”

“Truly, I don't figure the government will go along these lines. India is a piece of the G20, and nations inside that have endeavoured to manage such monetary standards,” one individual, who ran a digital currency organization in India, yet needed to close it down after the RBI request, said. He asked to remain anonymous.

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Bitcoin Gambling Laws: Netherlands https://cryptoshill.com/legal/bitcoin-gambling-laws-netherlands/ https://cryptoshill.com/legal/bitcoin-gambling-laws-netherlands/#respond Mon, 17 Dec 2018 07:49:11 +0000 https://cryptoshill.com/?p=5454 netherlands bitcoin

For decades, Netherlands has earned a name as one of the countries with kind laws even on activities which are frowned upon in the rest of the World. Amsterdam prides itself on its wholesome liberal and hugely tolerant attitude to affairs embracing the ‘open’ fact that its people could be into soft drugs, prostitution, and […]

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netherlands bitcoin

For decades, Netherlands has earned a name as one of the countries with kind laws even on activities which are frowned upon in the rest of the World.

Amsterdam prides itself on its wholesome liberal and hugely tolerant attitude to affairs embracing the ‘open’ fact that its people could be into soft drugs, prostitution, and mad pornography.

And so instead of outlawing everything, why not enjoy the honesty of living with it all?

You would, therefore, expect that such an indulgent view would apply also to gambling.

Many people are however shocked to discover that the Netherlands has succeeded in assembling quite a collection of gaming laws that you can call mischievous at the best and stifling at the worst!

Forget about the world famous red light district in Amsterdam…the kansspelautoriteit, Netherlands Gambling Authority (KSA) calls the shots in gaming and in most cases, it seems hell-bent on ensuring that the last thing a Dutchman can do is enjoy a game without it snooping around!

The Main Online Betting Statute remain in Limbo

Back in 2015, the government realized that its gambling laws were being left behind by the rest of Europe and were largely silent on how to handle the emerging phenomena that was internet gaming.

So the house of representatives embarked on a journey to amend the older act. Unfortunately, even though the main modernized remote gambling act was introduced to the lower house in the same year, it’s yet to see the light of the day.

The house of representatives

Suffice to say that the bill passed in the house of representatives but is yet to be approved by the senate despite projections that the Bitcoin gambling industry will continue to expand at an unprecedented pace.

The main bone of contention has been the suggested tax levy which was originally set at 20% for online platforms and 29% for land-based operators.

This was amended (and passed) at a flat rate of 29% for all casinos despite protests from online gaming providers.

Despite this major breakthrough, there are lingering fears that only a few companies will be able to obtain betting licenses due to the significantly high tax burden and other legal obstacles.

The good news is that the government has recently been actively seeking to have the bill finalized with the committee on Security and Justice holding consultative meetings as it seeks to clear the air on pending issues.

In the meantime, the regulator has been using older provisions and temporary decrees to rein on in internet betting companies though players are left scot free as the existing laws do not provide for player punishment.

Overall, the monarch is very strict on gaming websites and the no-nonsense KSA has been spending a lot of their time in implementing blockades and ensuring their citizens don’t access betting on offshore sites.

The Landmarks in the Draft Remote Gambling Bill

One of the most drastic provisions in the new statutes allows the kansspelautoriteit to vet and license offshore gaming operators entering the country and has really gotten gaming enthusiast jumping with excitement.

However, according to the proposals, operators will still need a local license to offer online gambling services to the Dutch people.

It also states that licenses issued by other EER or EU member states won’t automatically qualify providers for a remote betting license.

Online operators will also be required to monitor addicted clients and help customer exhibiting signs of problem betting activity.

Players can also smile about the new act as it doesn’t impose any restrictions on play and the type of games that one can participate in.

It’s also worth noting that violators of the gaming laws face sanctions and/or fines and can also be publicly “named and shamed” by the gaming authority. In case of total non-compliance,   the KSA may ask the public prosecutor to sue the culprits under the Dutch criminal law.

Games of chance

The regulator classifies games of chance as games in which players can win a prize but do not have a controlling influence on how results pan out.

And just like in online gaming, companies require a permit to operate chance gaming machines and amusement arcades.

Indeed, many games of chances remain largely prohibited (to private investors) with the field dominated by state-affiliated permit holders, including the Holland Casino, the lotto, and the State Lottery.

The monopoly Holland Casino group has about 14 casinos throughout the country with its profits going directly to the Netherland’s Treasury.

Holland CasinoHowever, the state plans to privatize the company in the future in accordance with the requirements of the latest EU laws.

The state also tries its best to block access to online providers of games of chance.

Intriguingly, the previously proposed amendments on the Chance Games Act allow licensed offshore online casinos offering such games to advertise and target Dutch citizens.

New Restrictions on Loot Boxes

The loot boxes craze has also caught up with the Dutch citizens and in the process piqued the interest of the gaming authority.

In April 2018, it commissioned a study and concluded some of the loot boxes contravened the betting act since the content is determined totally by chance.

To this end, the authority has warned parties that offering these types of games to Dutch players is prohibited unless licensed and has demanded that all operators apply for a permit, modify their games or cease operations completely.

The regulator has also announced that it is consulting fellow supervisory bodies globally as they plan a joint action.

The Bank of Netherlands (De Nederlandsche Bank) Stand on the Bitcoin

The monetary regulator -the Bank of the Netherlands (DNB)- has gone on record and said that Bitcoin and virtual currencies aren’t viable alternatives to the fiat as we know it.

But there are no active restrictions (as of yet) by the Treasury or any other body for that matter on virtual money meaning players can bet using the Bitcoin on their favorite platforms.

Sites such as 888Casino.com make play easier by offering games in the Dutch language and are hence very popular amongst the citizenry.

The Future Outlook

In our opinion, some of the controls implemented by the authorities in the past are clear pointers that the Netherlands isn’t ready to open up the field to online betting firms.

I am talking about limitations such as banning the use of .nl websites and Dutch sounding brand names by gaming operators.

Others include the previous attempts at controlling payment gateways which are crucial to not only bitcoin gambling but the internet gaming industry as a whole.

It’s also not clear when the Senate will adopt (if at all it will) the forgotten remote gambling act.

Some observers already fear that the bill could have lost its earlier overwhelming support despite the promising signs during the debate in parliament.

On an encouraging note, players aren’t prohibited from accessing platforms such as the browser-based Golden lion casino (in Dutch) and have been placing bets on their best-loved games for as long as I can remember.

Roundup

The Netherlands has a surprisingly lukewarm attitude to gaming and its all-powerful gaming authority has been a pain in the neck of online gaming operators.

The confusion surrounding the gaming arena in the country is also worsened by the fact that the Senate has either intentionally or otherwise slept on the job by delaying discussions on the proposed remote gambling bill.

On the other hand, gaming fans have been all too happy to log into sites that accept Ethereum and offering mobile payments as they seek joy from their passion.

That being said, the government is maneuvering to resurrect the bill by engaging stakeholders who remain optimistic that they will finally get a deal of their lifetime.

Otherwise, for now, expect a lot of moves from the various players in the Netherlands market.

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Bitcoin Gambling Laws: Russia https://cryptoshill.com/legal/bitcoin-gambling-laws-russia/ https://cryptoshill.com/legal/bitcoin-gambling-laws-russia/#respond Thu, 06 Dec 2018 07:57:00 +0000 https://cryptoshill.com/?p=5459 russia-bitcoin

Russia has been flexing its muscles around the World scene for sometimes now and is one of the countries that really divides opinion in political and trade debates around the World capitals. It’s also worth noting that one of Russia’s staunchest allies is China which means that some of their policies are very similar. Now, […]

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russia-bitcoin

Russia has been flexing its muscles around the World scene for sometimes now and is one of the countries that really divides opinion in political and trade debates around the World capitals. It’s also worth noting that one of Russia’s staunchest allies is China which means that some of their policies are very similar.

Now, we all know that the Chinese make it pretty hard to game in the country on land or online. Well, Russia isn’t that harsh but neither is it an open playground. So, how is the Russian gaming environment?

Diverse forms of internet gambling are generally not condoned under Russian laws. But there was an interesting twist in 2016 when the government licensed a couple of local operators to operate what they call “interactive betting.”

russia gambling

Since the Russian-licensed websites have to go through the centralized payment hub TSUPIS, the authorities have an easy time monitoring online betting trends.

There is no joy yet for internationally licensed websites as they remain unwelcome even after the review, as are sites offering other betting products like casino and poker games. Despite the otherwise radical position on other bets, it’s thought that thousands upon thousands of Russians ardently play online mostly using VPNs to bypass the IP restrictions.

In land-based casinos, the laws seem a bit lenient: You can have fun provided you take your game to a licensed provider in any of the four regional “gaming zones”. Overall, but for the four regions, land-based casinos are prohibited as are slot and other forms of machine-based gaming.

State of The Legislation in Russia:

The all-powerful Ministry of Finance formulates the federation’s policies and laws regarding gambling. Supervision, licensing, and enforcement is left to Federal Tax Service (FTS)- one of the ministries arms.

In the regions where the authorized gaming zones are, permits are issued by the regional authorities. The gaming exempt zones are Primorskaya (in the far east), Sibirskaya Moneta (in South Siberia), Yantarnaya (Kaliningrad Region) and in the Krasnodar Region, the Azov-City and Krasnaya Polyana (in Sochi).

The governing laws are a mix of federal level statutes and regional legal acts where applicable including the Gambling Law (No.244-FZ, 2006), Lotteries law (No.138-FZ, 2003), and the general gaming regulations (Civil Code).

Additionally, various bye-laws and Governmental decrees regulate specific issues within the sector, including registration of new gaming machines. Also playing an important role is the Telkom regulator, the roskomnadzor, which works round the clock monitoring and ordering Russian ISPs to block suspected gaming websites.

Sports betting was legalized in 2014 and enjoy a bit of a leeway but organizers are supposed to collect the personal details of gamblers and hand it over to the relevant sports federation and supervisory authorities.

Furthermore, the country keeps reviewing these laws and issuing new decrees as the dynamics change. For example, the authorities are mulling improving the older 2006 advertisement act to rein on brazen gambling adverts.

Also, according to press reports, President Putin has signed into law a bill that slaps more stringent punishment for illegal gambling activities.

The Government Position On Bitcoin

bitcoin in Russia

The government position on the Bitcoin keeps oscillating between warm and very cold. In 2016 for instance, the authorities announced that they will soon be launching a vicious crackdown on Bitcoin trade though not much happened. Come the first half of 2017 and the state seemed to suddenly warm up to cryptocurrencies even promising a favorable regulation to help the fledgling sector.

Then, in late 2017, and again out of the blue, President Vladimir Putin sounded the alarm over the Bitcoin and other virtual currencies, giving the clearest indication yet that the country means business as far as restricting the expanding crypto-market is concerned.

Incidentally, China and South Korea have a similar attitude towards the cryptocurrency market. The State Duma (parliament) is currently however still considering the various bills tabled on the increasingly popular digital financial assets.

Despite this, the government of the Leningrad Region previously announced that they’re opening what they are calling “the largest Bitcoin and Litecoin Mining farm” in the country. Such developments are expected to pique the interest of Russians who are yet to engage in cryptos and may help raise the profile of online Bitcoin betting websites such as CafeCasino which can be accessed from the country.

The State of The Gambling Industry

There’s a lot of interest in online bets in the federation and in spite of the government’s best effort, a large percentage of Russians are still betting in the black market.

Moscow is aware of this fact and has been coming up with amendments and new bills every now and then as it seeks to finally deliver a knockout blow to the black betting market. So far, the country has been busy censoring and deleting websites of the guilty providers. This has not been without challenges seeing that the old IPV4 address banning system is not very effective. But now, with the leading telecoms agreeing to move over to the much improved IPV6 addressing system, IP censorship is expected to move a notch higher.

There have also been proposals to ban VPNs and international payment gateways using by foreign gambling websites even though these are yet to be implemented. If and when they do, reaching offshore websites will become a whole lot harder.

Such laws will undoubtedly affect even legitimate online Bitcoin Casinos which features a variety of games that may appeal to Russian players.

Sports betting has also been growing since its legalization and more of the World leading brands such as 1xBet are either setting shop locally or partnering with local providers in an effort to penetrate the market.

At the present, the regulated sports betting market handles about $10 Billion (677 billion rubles) worth of bets annually and this is expected to shoot up exponentially as the market matures.

Numerous Online Betting Company Eye the Russian market

Based on the statistics from the regulatory bodies, Russians gambling culture remains a huge attraction for international betting firms with many serving players in the federation. No wonder the number of gambling-related domain names reported to the Roskomnadzor keep growing. In the beginning half of 2018 alone, the agency reported that it had received a staggering  143,000 complaints concerning gambling sites.

The Russian Central Bank is now also chipping in to help and has drafted some amendments to the information Law giving itself powers to block any domain name (notwithstanding the site type) that it believes to be engaging in fraud without even seeking a court order as has been the case.

Conclusion

The Russian Federation has super strict anti-gambling laws and online gambling is closely controlled. Despite that only locally licensed “interactive gaming” is allowed, online gamers interested in Bitcoin casinos and poker can play offshore thanks to VPNs and the proliferation of sites offering services to Russians.

Various websites remain blacklisted though, as I had mentioned, players have perfected the art of beating the ISP blockades using VPN applications. Sports’ betting is allowed and has been slowly getting to its feet since its legalization a few years ago.

Meanwhile, the digital currencies regulations continue to gather dust in the State Duma and it’s not clear when and if these laws will pass. In short, to play in Russia, you either have to stick to the land casinos in the secluded zones, bet on the local interactive websites, or go to the black market on the internet.

Luckily, the government has their eyes trained on providers so players can breathe- for now.

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Bitcoin Gambling Laws: Hong Kong https://cryptoshill.com/legal/bitcoin-gambling-laws-hong-kong/ https://cryptoshill.com/legal/bitcoin-gambling-laws-hong-kong/#respond Sat, 17 Nov 2018 05:33:50 +0000 https://cryptoshill.com/?p=5246 Hong Kong bitcoin

Hong Kong is a great city and one of the World’s busiest. Big and little buses, a tramway, ferries, teeming cabs, railways, you name it. Hong Kong has it all! And they are all perfectly interconnected, making the city’s system one of the world’s most sophisticated. But life isn’t as complex here as you will […]

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Hong Kong bitcoin

Hong Kong is a great city and one of the World’s busiest. Big and little buses, a tramway, ferries, teeming cabs, railways, you name it. Hong Kong has it all! And they are all perfectly interconnected, making the city’s system one of the world’s most sophisticated.

But life isn’t as complex here as you will learn when touring. Almost everyone you ask knows about the magnificent Sha Tin racecourse. Here, patrons happily converge in front of a grand 70.4-meter screen which always beams the action from major contests such as the Hong Kong Derby. And almost all will most certainly be saying a small silent prayer..that their bets win.

Indeed, since it’s one of the allowed forms of gambling, Horse racing is akin to a religion here with residents estimated to bet more in horses than almost anywhere else on the globe. But overall, the government, which is heavily influenced by the Chinese, as one of its administrative provinces, restricts organized betting to only a few games.

And, Hong Kong’s Jockey Club holds an absolute monopoly on many of these games.

That explains why the Jockey club has consistently contributed humongous amounts of money to the government as duty and after-profit taxes.

What The Gambling Legislation Says

The country’s home affairs bureau formulates gambling policy in addition to monitoring its implementation.

The department has successfully designed and enacted two major laws to oversee the sector.

First, there is the country’s gambling ordinance (cap. 148), which outlaws all gaming activities but for horse racing, football bets, and much-loved mark six lottery.

The other law is the betting duty ordinance (or cap. 108) which further reinforces the specifications of the older law.

Additionally, cap 108 establishes the all-powerful betting & lotteries commission which acts as the chief regulator and enforcer of the gambling policy in Hong Kong.

Additionally, the legislation restricts betting to a couple of authorized and regulated outlets.

Presently, the dominant outlet is the monopoly Hong Kong’s jockey club and its branches.

Others gaming activities are played in mahjong parlors and any other location whose legality is determined by the responsible public officers.

The authorizing officials are agents of the appointing Home Affairs Secretary and verify that entities adhere to the requirements of Cap. 148 before allowing operations.

Home Affairs Secretary, Lau Kong-wah

Social gambling activities are also allowable under the third Section of the aforementioned gambling ordinance.

The policies are silent on online betting though the authorities have declared any gambling involving bookmakers illegal.

Hong Kong Authorities Have Not Okayed On The Bitcoin

Hong Kong’s regulator, the Securities & Futures Commission (SFC) has in the past announced plans to crack down on unlicensed Bitcoin exchanges operating in the acclaimed Asian financial hub or those caught violating local securities laws.

The SFC has also published a circular cautioning citizens to exercise caution when investing in cryptocurrency-related products

This development is similar to the neighboring Macau where, despite the popularity of the Bitcoin and being a gamers’ haven, the government has still been hesitant to officially legitimize Cryptocurrency.

Blockchain is at the heart of the bitcoin plus all other virtual currencies.

One blockchain developer has even gone ahead to introduce a decentralized blockchain platform purposely for the casino industry

The good news is that Hong Kong’s treasury doesn’t seem to be opposed to the Blockchain technology and has repeatedly shown signs of supporting its adoption in the nation at the right time.

The Demand For Gambling Is Huge In Hong Kong

With an estimated16,469 people (per square mile), Hong Kong is one of the most densely populated places on Earth.

And it’s pretty clear that people here love fun with betting being a favorite among many.

All the way from the ever-bustling Mongkok neighborhood to the hyper-busy apm mall, there’s never a dull moment.

Gamers while away time in the giant Jockey club playing the available games. But there’s a big population that sits in front of their laptops and smart devices.

For them, offshore online sites are the real deal with a good number believed to have ventured into websites offering the option to pay in Bitcoin.

Again, the country hasn’t expressly made a policy banning Bitcoin games, neither access to online gaming websites.

Maybe this waits and see attitude may help players in the long run as the Bitcoin Gambling industry is projected to expand rapidly in the coming few years.

The Authorities Have Been On The Neck Of Non-Complying Gamers

Just like the discrete internet gaming, football betting is big in Hong Kong but players must stick to registered locations.

However, not all comply and the government has been on their case.

Most prominent is the establishment of a task force to combat illegal football betting by the police, a while back.

The police have also in the past mounted sting operations and busted numerous illegal gambling rings around the city.

But residents have become used to watching their backs when playing stakes outside the allowed zones due to the uncertainties in the interpretation of the existing laws so play never stops.

Even funnier, gambling- crazy Hongkongers are said to have placed bets worth tens of Billions during the Russia 2018 World Cup, the attacks notwithstanding.

Money Laundering Laws Have Affected the Gambling Scene In The Country

Hong Kong money laundering Laws have contributed to the governments close monitoring of the betting sector.

Because of its proximity to China, where endemic corruption has provided loopholes through which money launderers thrive, and Macau, a notorious international money laundering hotspot, Hong Kong has crafted tough Anti-money laundering legislation.

Hong Kong’s financial intelligence unit (JFIU) uses the powers conferred to it by the drug trafficking ordinance (Cap. 405) together with the organized & serious crimes ordinance (Cap. 455), to track any suspicious players.

Similarly, its officers follow any outlets they have reasonable grounds to suspect of being involved in related offenses.

On virtual currencies, the inter-governmental financial action task force (FATF) has released a document detailing the potential risk of money launderers using cryptos for their dirty trade in the country.

Nevertheless, websites delivering betting services to Hongkongers seem to be in the good books of these agencies as none has, as of yet, been accused of abating such practices.

Conclusion

Just like its nationhood status is mired in controversy, Hong Kong’s gambling laws are somehow controversial.

Yes, gambling is outlawed but for horseracing, football, and a few others.

This has however not deterred the gambling-passionate citizens from placing stakes on their favorite internet casinos even using the Bitcoin though they have to watch their backs for fear of sanctions.

And it has so far been a smooth run as the authorities have concentrated on raiding known illegal gambling rings. Furthermore, the country lacks a specific policy on Bitcoins and online betting so gamers have a reason to remain optimistic for the near future.

Otherwise, for the other games, you either stick to the controlling Jockey club or the few other exclusively licensed outlets.

Anything else will be inviting the wrath of the non-compromising authorities.

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Bitcoin Gambling Laws: Denmark Rules and Regulations https://cryptoshill.com/legal/denmark-bitcoin-gambling-rules-and-regulations/ https://cryptoshill.com/legal/denmark-bitcoin-gambling-rules-and-regulations/#respond Mon, 13 Aug 2018 21:04:32 +0000 https://cryptoshill.com/?p=4725

The year 2012 was a remarkable time period for the country of Denmark with respect to online gambling and bitcoin casino gambling. Danish voters rejected the Maastricht Treaty which would have led to an even closer integration with the European Union in a referendum. Shortly afterwards, in June, the country officially legalized same-sex marriages after a lot […]

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The year 2012 was a remarkable time period for the country of Denmark with respect to online gambling and bitcoin casino gambling. Danish voters rejected the Maastricht Treaty which would have led to an even closer integration with the European Union in a referendum. Shortly afterwards, in June, the country officially legalized same-sex marriages after a lot of back and forth between the opposing camps. Three months afterwards the Nordic country made more headlines launching a giant wind turbine, the biggest across the planet in Østerild.

But what caught the eyes of so many people was the door flinging open for online gambling with most enthusiasts celebrating. Online casinos, lotteries, land-based casinos, betting bookies, gaming machines, and poker tournaments all received updated Danish regulations and rules. With these new rules game the end of a long-held stance of monopolies in the gambling sector. The state-owned Danske Spil lottery and gaming commission permitted competitor options for gamblers from overseas operators.

The Danish government delegated the control of all online games including casinos, sports betting, and poker to Spillemyndigheden (the Danish Gambling Authority) which is under the Minister of Taxation.

Denmark is a Free Market

Since 2012, In Denmark, all casinos – whether domestic or foreign – are granted licenses, provided they comply with the provisions. This is a no doubt a win-win for bettors and the society at large.

There is subsequently a big number of licensed providers and a very tiny minority engaged in illegal gambling. Needless to say, the presence of multiple online betting companies contribute to a highly competitive gambling field meaning players are able to access a wide variety of online games and at affordable fees.

There Have Been Some Noteworthy Events

The state has been quick to act each time it feels that there is a threat to the welfare of players in Denmark. A few actions have left a tremendous impact on the arena. Here is a brief highlight;

2012: Most if not all of the offending gambling providers were contacted and requested to cease violating Denmark’s Gambling Act.

2014: The authority, working with the feared anti-fraud unit conducted expansive web searches in an effort to nail suspected illegal sites.

2015: Another extended web search.

2016: The Danish police reported three cases of unlawful land-based gambling. The gambling authority handed overdraft statements regarding this violation to the police.

2016: There was an update to the ‘Danish Gambling Authority’s procedures on preventing money laundering and possible terrorist funding in the online casino sector’.

2017: The betting authority raises concerns about illegal gaming on Facebook especially in groups providing often lotteries and advises citizens to be wary.

2017: The regulator resolves to focus more on skin betting after realizing that the practice is becoming common in the country. It orders all sites willing to offer the service to apply for a license.

Online Casinos Can Offer More Games in Tax Free Zones

According to the Spillemyndigheden Gambling Act, licensed internet-based casinos can provide poker, roulette, punto banco, baccarat, blackjack, and betting on gaming machines that offer cash winnings.

In this regard, the country is travelling the same road followed by other gambling-friendly states in Europe such as the United Kingdom where lead operators are free to avail various games. Moreover, multiple language options demonstrate the friendliness these sites remain to other countries that seek them in popularity.

You, therefore, find reputable sites such as 1xBit bitcoin casino with a Danish translation option, while also serving as a bitcoin platform delivering interesting choices for gamers in several other languages.

Such sites go a step further to issue instant payouts on top of no claim intervals regardless of where the citizen is located. As this happens, internet casinos in Denmark’s direct neighbor, Switzerland, can only watch jealously as their country turns increasingly conservative thanks to the upcoming implementation of the new Swiss federal gaming act.

Denmark Blocks Unlicensed Sites

Denmark is welcoming but that is not to say that all foreign providers get uncontrolled entry to the market. As in some other countries, there are network blockages as well for unpermitted foreign websites.

Just recently, the nation’s court of Frederiksberg backed the Danish Gambling Authority’s decision to block 24 offshore websites which it had accused of offering to game to the nationals against the law. This was after the concerned telecommunications companies ignored the regulator’s request to restrict access to the suspected websites. The 24 sites were a mixture of casinos and betting sites but not reported if any were, in fact, bitcoin casino gambling sites.

Spillemyndigheden was particularly incensed by six of the portals since they were offering skin betting and were even targeting under-age players (since like most of the world, the Danish legal betting age is 18).

While some saw the action as being a bit drastic, others felt it was the way to go to maintain the high standards and respect of the gaming arena in the nation. Furthermore, this was not the first time for such an action to happen with the gambling authority close 5 illegal websites way back in 2014.

Denmark has excelled in Gambling

Nordics were among the first people to take to the internet and have always led in adopting digital infrastructure. This, plus the liberal laws have resulted in transforming the fortunes of Denmark’s gaming scene which is now rated as among the best in the EU.

And the fruits are there for everyone. Data from Denmark’s gambling body shows admirable growth in revenues from with online casinos generating $283 million in 2017 alone.

Considering that online betting revenue is subject to a 20% tax, the Danish economy is more than happy to host more betting companies. Statistics have also indicated a significant rise in the number of employees working in both land-based casinos and internet providers running in the country.

In addition, many betting casinos enterprises have built advanced betting platforms to serve the needs of players in the region and so Danish players are also a happy lot.

Some of the casinos operating here include Wintika and Propawin of which accept Bitcoin payments and Danish Krone (DKK). This has also helped change the opinion of the citizens towards gambling with the majority now considering betting as an ordinary form of entertainment.

Danish Laws Support Innovation in Gambling

The authority allowed players to use MobilePay to pay for games provided a clear trail of transactions and documentation is maintained by providers. Denmark’s lotteries should also be ready to hand over such records to relevant authorities whenever a query arises. At the same time, a new app to help those who gamble too much or who need an understanding of the amount they spend on betting was unveiled by the Authority. The application can register all winnings and losses and give players an idea of more so when betting is almost getting out of hand.

Conclusion

Since the enactment of the new legislation in 2012 plus the subsequent executive orders, gaming has reached dizzy heights in Denmark. The country has attracted more betting firms each of which is trying to put their best foot forward in order to serve the needs of players in this market.

The industry’s revenues are also soaring as well as taxes. More jobs have also been created making it a win-win. The acceptance of MobilePay and the release of the responsible gambling app to discourage players from over-indulging is also awesome.

Overall, Copenhagen continues to set the pace as far as online gaming is concerned and so long as the government is receptive, the sky should remain the limit for players here.

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Bitcoin Gambling Legislation: Norway Rules and Regulations https://cryptoshill.com/legal/bitcoin-gambling-legislation-norway-rules-and-regulations/ https://cryptoshill.com/legal/bitcoin-gambling-legislation-norway-rules-and-regulations/#respond Sat, 04 Aug 2018 00:49:15 +0000 https://cryptoshill.com/uncategorized/bitcoin-gambling-legislation-norway-rules-and-regulations-00000110/ norway govt bitcoin

Norwegians have twice voted overwhelmingly to reject the offer to join the European Union. At a casual glance, this may not mean much. However, this is one of the biggest headaches for gaming operators in the Nordic country, especially bitcoin gambling advocates. Unlike in Sweden where commercial gaming organizations have successfully contested the decision to […]

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norway govt bitcoin

Norwegians have twice voted overwhelmingly to reject the offer to join the European Union. At a casual glance, this may not mean much. However, this is one of the biggest headaches for gaming operators in the Nordic country, especially bitcoin gambling advocates.

Unlike in Sweden where commercial gaming organizations have successfully contested the decision to ban gambling in the country, Norway has remain steadfast in its vehement opposition to betting, hurting many opportunities for bitcoin casinos.

Worse still, the state has lately been acting to further curtail the little freedom that online casinos may enjoy by outlawing the processing of Bitcoin-related payments by bankers. The regulator is Norway’s Gaming and Foundation Authority. It as an establishment does not play around with the law, going as far as declaring that commercials from foreign betting companies are even illegal per its regulations.

Sure, the laws do not prohibit Norwegians from wagering, but the Norweigen Government isn’t at all impressed especially when the players seek solace from private online casinos, too are all banned.

The Law Conspired to Make Betting a State Affair

Norsk Tipping

The regulator gives two state operators Norsk Rikstoto and Norsk Tipping exclusive rights to provide online gambling in the country. This looks positive on the surface, giving an opportunity for gambling online. However, it is limiting, eliminating any possibility of an open market. Despite that a country like Malta is opening up space to more commercial players, this goes in the opposite direction. All of this is based on the belief that the Bitcoin isn’t going anywhere, anytime soon, so there is a need to limit any gambling development, as well.

The main motivation behind leaving gaming at the hands of the state, and in particular, the hands of two commercial giants, is the need to protect national security and individual safety online. One major risk the government is concerned about is the addictive nature of gambling. Moreover, bitcoin gambling and other online cryptocurrencies open the door to a new type of player from around the world who may bring criminal potential and baggage to lead to societal disorders.

In addition, the Scandinavian country wants to ensure that all profits from gaming return to Norwegian sports and culture, a product of the government sector, instead of benefiting private shareholders. We should be clear. Gambling online is allowed, but through strict government intervention. There is no free range market to open a casino online.

Norway’s Laws Today

norweigan govt bitcoin

Norway has subsequently gone ahead to pass three laws: the Gaming Scheme Act, the Lottery Act, and the Totalisator Act. Each of these is governing all opportunity for gambling. Together these laws are setting the foundation for the attainment of the two models of play.

In the meantime, it’s the Ministry of Culture that has the overarching responsibility for all the lotteries by Norsk Tipping and any other game mooted by private organizations.

Online Casinos Red-Carded in Norway

Norwegian players are an interesting group. Since the Government won’t allow players to access their favorite games locally, they have turned to the internet in numbers. Many also need to mask their IP addresses using VPN so they are not to be tracked locally by the government.

And the broadband infrastructure is already well established. This fuels many to seek out online Bitcoin casinos including FortuneJack which specifically provide attractive odds, high-quality games, and a path of seamless transition between bank account and player.

Such is the passion that they seem to care little that internet-based casinos remain completely banned from Norway and that so far, there’s very little hope of change in the status quo. At least not according to the Governments’ body language. For example, the appointment of Gunn Merete Paulsen, a battle-hardened lawyer, as the head of the gaming body in June does little to inspire confidence. It only poses more threats to its eventual closure.

Also,  the demands for stricter controls, including IP blocking by a grouping of opposition parties in the Storting Parliament are expected to severely restrict the space for foreign online betting companies.

Bitcoin Has Cause for Concern

We are convinced that in Norway, the war is being fought on all fronts. Not least because in the past months, the Central bank, Norges Bank, has announced that it is considering coming up with its own digital currency. This will be called the CBDC (Central Bank’s Digital Currency) to supplement Fiat exchanges and diminish cryptocurrencies influx.

The bank has explained the development as being prompted by the increased popularity of contemporary payment schemes such as cryptos and the decline of cash.  They have also said that this will be in line with similar proposals by central banks elsewhere. But, of course, one cannot help but feel worried about what will happen to the Bitcoin in the long run and the destiny of the other cryptos like Etherium, Ripple and Zcash in the country.

Moreover, there is no thinking presently that even if CBDC were too successful, will it translate to its own online casino. To analysts, it’s clear that such a move will make an already bad situation worse and would make Norway one of the most hostile countries toward crypto with respect to its laws.

Norwegian Gaming

In Summary, the Future of Online Gambling in Norway

Without a doubt, the coming days don’t look promising and stakeholders have many reasons to tread with caution. The suggestions by parliament are especially risky. IP restriction and the invocation of heavier fines would harm both sides  players, providers, and even the government tax opportunity.

Gunn Merete Paulsen, the new head of the gaming authority, is also making her presence felt with renewed crackdowns on online casinos. Not to forget that the Government looks ready to do all within its powers to sustain the monopoly of its twin operators, Norsk Rikstoto and Norsk Tipping.

The blockade imposed on financial institutions against processing crypto-payments doesn’t make things any better. For players, these measures are likely to lead them to look for ways to satiate their thirst such as the use of VPNs as its being done in other harsh regimes such as in parts of China. It’s however hoped that at some point, the authorities will realize that it’s almost impossible to control online betting and maybe review the legal framework.

Norway is not a winning playground for betters or betting companies. From the stern-looking gaming authority, the central bank, to the parliament, the bullets keep coming making it hard to operate. Online betting is illegal outside the scope of the two government-regulated companies. Despite this, perhaps one day the state will change, seeing that controlling online gaming is not such an easy task. As of currently, it’s very tight in Oslo.

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India Shifts Considerations to Legalize Crypto Gambling https://cryptoshill.com/legal/india-shifts-considerations-to-legalize-crypto-gambling/ https://cryptoshill.com/legal/india-shifts-considerations-to-legalize-crypto-gambling/#respond Thu, 02 Aug 2018 00:49:17 +0000 https://cryptoshill.com/uncategorized/india-shifts-considerations-to-legalize-crypto-gambling-00000236/

Legalization of the multi-billion sports betting business could provide the much-needed lifeline to India’s ailing cryptocurrency ecosystem. A new legal report published by India legislators has caught many people by surprise, on mentioning cryptocurrencies in the same breath as other acceptable payment options. It was only more than a year ago that the Indian government […]

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Legalization of the multi-billion sports betting business could provide the much-needed lifeline to India’s ailing cryptocurrency ecosystem. A new legal report published by India legislators has caught many people by surprise, on mentioning cryptocurrencies in the same breath as other acceptable payment options. It was only more than a year ago that the Indian government was unclear how to treat Bitcoin and other cryptocurrency, keeping virtual currency in a gray area, not considered money.

India’s Cryptocurrency Ban

India is one of the countries in the world that has maintained a tough stance against virtual currencies. The country’s de-facto central bank has always insisted that such assets cannot be treated as means for legal tender.

In April, the Reserve Bank of India ordered all banks and financial institutions in the country to cease from offering support to cryptocurrency transactions. The order led to the filing of lawsuits, with the country’s Supreme Court tasked with the responsibility of providing the way forward from the current standoff.

Even as the Supreme Court of India (SCoI) continues to deliberate on the matter, a new report could as well have provided hints at the possibility of cryptocurrencies finding their way into the Indian society, legally and soon.

Cryptocurrency Legitimacy

India’s legislative body has for quite some time been studying the positives and negatives of sports gambling which remains illegal at the moment. In its report, the Commission notes that an outright ban has only resulted in rampant illicit gambling activities in the black market.  To combat illegal gambling activities the commission has called for formulation of policies to regulate the industry and consider a control over bitcoin casinos.

According to the Commission, the regulation aspect would mostly focus on the cashless payment systems such as credit cards as well as debit cards and cryptocurrencies.

“Gambling transactions should be made cashless, making use of electronic means of payment such as credit cards, debit cards, net-banking, virtual currencies (VC, or cryptocurrency), etc.,” the commission had recommended in its report submitted to the SCoI.

The commission mentioning digital currencies along other recognized payment options appears to have fuelled chatter that the government could be forced to change its stance when it comes to cryptocurrencies especially on legalizing sports betting.

India appears to be taking note of the fact that an outright ban on certain activities never achieves the desired impact. For instance, the gambling ban has had little or no effect in preventing people from placing bets on their favorite sporting events. Even with the ban on cryptocurrency gambling in place, some people continue to explore loopholes to buy and sell cryptocurrencies of their choice online.

While cryptocurrencies have continued to arouse concerns which have prevented their adoption into the mainstream sector, the commission has called for strict laws to help curb money laundering.

According to the Law Commission, regulating gambling would make a lot of sense as opposed to imposing an outright ban. If indeed true, then the same can also be said about cryptocurrencies, which as it stands are banned in the country.

Cryptocurrency Legalization Pathway

This is the first governing body formed that has touted cryptocurrency as an alternative means of payment. The remarks have gone as far as fuelling suggestions that it might only be a matter of time before India recognizes Bitcoin as an alternative form of payment.

However, acceptance of altcoins could take some time given that the government remains focused only on the underlying blockchain technology. In addition, the online gambling debate has been going on for many years with gambling remaining illegal for over 150 years.

Talk of gambling legalization appears to have gained momentum in the wake of the 2013 match-fixing scandal in the Indian Premier league where high-level sporting personalities and officials were implicated.

Unless the government lifts the ban on gambling, then it is highly unlikely that it will also lift the current ban on cryptocurrencies. Either way, illegal sports betting should continue to thrive in the underworld, especially with the emergence of platforms supporting cryptocurrencies.

Regulation appears to be the only way out of the current standoff given that sports and crypto betting will continue to thrive with or without the government support. Betting activities have become more accessible trends that can only continue to grow as cryptocurrencies become popular.

Cryptocurrency legality in India will be known on September 11, 2018, when the Supreme Court deliberates on the matter.

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Bitcoin Gambling Laws: Switzerland Rules and Regulations https://cryptoshill.com/legal/bitcoin-gambling-laws-switzerland-rules-and-regulations/ https://cryptoshill.com/legal/bitcoin-gambling-laws-switzerland-rules-and-regulations/#respond Mon, 02 Jul 2018 00:49:15 +0000 https://cryptoshill.com/uncategorized/bitcoin-gambling-laws-switzerland-rules-and-regulations-00000108/ swiss gambling laws

For many years, Switzerland has been regarded as one of the most liberal countries in the world. It was even ranked the 7th most liberalized country as recently as last year by the international relocation blog, movehub. But that seems to be changing, and pretty quickly. It all started in 2015 when the fiercely anti-immigration […]

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swiss gambling laws

For many years, Switzerland has been regarded as one of the most liberal countries in the world. It was even ranked the 7th most liberalized country as recently as last year by the international relocation blog, movehub. But that seems to be changing, and pretty quickly. It all started in 2015 when the fiercely anti-immigration right-leaning Swiss People’s Party (SVP) gaining a record-breaking number of seats in the Swiss parliament. That same year, the Eurostat study discovered that the country’s gender pay difference had fallen three places and was, for the first time, above EU’s average. On social progress index (SPI), the alpine country was ranked an impressive fifth overall but there was a drastic fall on certain liberal areas including availability of opportunities and tolerance.

And so the recent passage of very strict and restrictive gambling laws (which critics have dismissed as internet censorship) by an overwhelming 73%, was barely surprising.

Online gambling is now legal, unlike in the past. The new Federal Gambling Act effectively bans foreign websites from providing gambling services to the Swiss, however. So what does this mean for bitcoin casino sites that generally are operated from outside the scope of Switerzland?

Swiss Parliament where the laws were hotly debated.

Law Divided Opinions

The Justice Minister, Simonetta Sommaruga, mentioned that the government was motivated by the need to protect its people from becoming addicts, especially with the craze of cryptocurrencies in all financial sectors. She also alleged that bettors in Switzerland invest, and eventually lose, about $254 million per year into foreign online gambling sites. What is more attractive to the average Joe is that he does not need to pay taxes on his winnings, to any Swiss economic and government program.

Justice Minister Simonetta Sommaruga
Justice Minister Simonetta Sommaruga

But commentators have argued that while the government has legitimate concerns, the approach is full of pitfalls. For example, local casinos are allowed to continue delivering various forms of gambling without restriction on what is okay and not okay to produce. Furthermore, there is no way to know for sure how the state will succeed in fighting addiction while the market is still open to local betting firms. If a casino operates, no programs exist to measure the amount of dependecy and addiction currently. So numbers will either stay the same or increase without ever actually documenting the research.

Another fear by the government is that Swiss addicts may simply move online and continue experiencing the thrill of wagering. Regretably, many supports of the bill also believe a mistake was made, and that Switzerland should have actually adopted similar tactics in place by other countries in Europe. Malta for example has successfully managed to net more money (and jobs for its citizens) from providers by following a more positive strategy.

Denmark gambling authorities also provides licenses for any gambling service, regardless of the casino’s location. Requirements and regulations must be met but revenues are quite high for Danish players and owners.

Some Sections Have Won Support

Judge Sommaruga’s other argument is that there is a concern for fraud throughout the country, especially if autonomy continues to grow for online casino vendors.

“(Currently) there is no requirement to prevent money laundering or fraud,” she said

And at least on this one, stakeholders agree.

“To keep bad apples out is a genuine concern…” says Markus Kummer, the vice chair of the not-for-profit research group, the Internet Society (Swiss chapter). “…But to claim that Swiss players are perfect (and without addiction, or criminal histories) may take some convincing [for government agencies].”

All this has happened even as the rest of the world seems to be preparing for the domination of iGaming and cryprocurrencies.

What the Law Actually Means

swiss bitcoin

To allow for a smooth transition, the law will not be implemented until 2019. But when it does, both players and providers can expect a tougher operating environment. Actually, some diehards believe that the new legislation will go against the grain and make Switzerland one of the most stringent countries on gambling. Either way, big change is coming to the federation.

  • Internet gambling is free for Swiss citizens to participate in.
  • Foreign firms presently selling online betting services (though illegally) may have to rethink operations to follow permit regulations.
  • The door is not officially shut on operation of betting services from within the country but it is nearly impossible to open an online site.
  • Swiss gamblers must narrow down their activity choices to playing illegally or in land based casinos.
  • There is no ban on using foreign-registered gambling sites, which most cryptocurrency and bitcoin casinos operate under.
  • This law indirectly monitors IP freedom and leaves the door open for a future with potential IP blocking. VPNs must be used to gain access to online sites and gambling sites outside the scope of a Swiss internet provider.
  • There are divisive campaigns still affecting the creators of the referendum, with many legislators open about their disagreement with this process.

Switzerland’s Federal Gaming Board

Gaming laws are implemented and enforced by Switzerland’s gaming board (Commission) under the leadership of its president, Dr Hermann Bürgi, a lawyer with wide experience in government and policy matters.

Moving forward, the board is expected to come up with the necessary procedures and systems to ensure that the law is followed by all the parties to the later.

Apart from processing applications and supervising operators, the board is expected to maintain a list of blacklisted operators as well as checking on Swiss internet access providers to ensure they’re blocking access to the blacklisted online casinos.

They should also be coming up with measures to strengthen a player’s protection and to guarantee transparent and secure gaming operations.

Options for the Future

The next few months are going to be critical and if everything goes according to the opposing camp prayers, there could be some light at the end of the tunnel. Swiss laws provide citizens the opportunity to initiate a public referendum on any law they feel is suffocating. Furthermore, the requirements aren’t that tough as one needs to collect only 50,000 signatures within the first 100 days of the law being published in the country’s Federal Gazette.

This may not be an extreme possibility since the section on IP blocking generated a lot of heat during the parliamentary debate. If that was to happen, there will be further delays in enactment which means the country will revert to the existing framework which seems a bit friendlier in the eyes of stakeholders. Otherwise, everyone should brace themselves for the brand new and restrictive playing scene.

Conclusion: What About Bitcoin Gambling?

Switzerland has been seen as the unofficial headquarters of Blockchain and Cryptocurrencies making it a popular choice for start-ups running ICOs. The country is even doing more with the Councillor of Switzerland’s economic affairs department with Johann N. Schneider suggesting that Blockchain technology and the Bitcoin will in the future be big in the country’s financial system.

And so despite the gloom these new laws bring about, this could be music in the ears of those looking to get started or continue playing with Bitcoin gambling sites. Online Bitcoin casinos such as GoldenLion are constantly introducing new games knowing that would come in handy for players around the planet.

Even though it legalized internet betting, the new federal gambling act is bad news for foreign betting websites in Switzerland because it blocks them from accessing the market. But again, bettors have always gotten ways around these challenges so it’s hoped that, even though the situation is currently unpredictable, there will still be a way out for all concerned.

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Can Cryptocurrency Law Changes Affect Bitcoin Gambling For the Worse https://cryptoshill.com/legal/cryptocurrency-law-gambling-00000190/ https://cryptoshill.com/legal/cryptocurrency-law-gambling-00000190/#respond Thu, 14 Sep 2017 00:49:16 +0000 https://cryptoshill.com/uncategorized/cryptocurrency-law-gambling-00000190/

Since China’s ban on ICOs (Initial Coin Offerings) in September, more countries are considering legislation implementation regarding the cryptocurrency economy, or have already taken steps towards regulating the decentralized market in the hopes of controlling, taxing, and even banning the peer-to-peer virtual transactions. Will this have an impact for online Bitcoin gambling? Will it lead […]

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Since China’s ban on ICOs (Initial Coin Offerings) in September, more countries are considering legislation implementation regarding the cryptocurrency economy, or have already taken steps towards regulating the decentralized market in the hopes of controlling, taxing, and even banning the peer-to-peer virtual transactions. Will this have an impact for online Bitcoin gambling? Will it lead to certain casino closures? See what is happening in several countries:

South Korea is cracking down on ICOs

Alongside with China, South Korea is also cracking down on ICOs and virtual currency. The National Tax Service (NTS) and the Korean Fair Trade Commission (KFTC) got together on Sunday to discuss establishing user authentication systems and “suspicious transaction reporting” at banks for cryptocurrency transactions, as reported by Business Korea. Furthermore, ICOs are in the crosshairs too: “We will clearly state the foundations of the Act on the Regulation of Conducting Fund-Raising Business Without Permission for illegal fund-raising impersonating digital currency investment and strengthen levels of punishment,” a Financial Services Commission official declared.

Ukraine is set to decide the legal status of crypto currencies soon

Ukraine is yet another country that is currently discussing the legal status crypto currencies. The Ukrainian Cabinet of Ministers on the Financial Stability Board will issue a decision at the end of September that will finally determine the legality or not of Bitcoin and other altcoins. This comes very late into the Crimean annexation and ongoing war between the Ukrainian forces and the allegedly Russian-backed separatists in the Donbass region. With fears plummeting on virtual crypto currency fund transfers between the Pro-Russian factions and the Russian government.

Why are countries so eager to change policies on cryptocurrency now?

The whole world is trying to understand and decide whether they can profit or not from cryptocurrency, and states are no exception. In fact, the whole thought process is based on political and economic control. Various entities within the states are wrestling each other to establish their dominance. For example, big banks and traditional financial institutions will almost always try to influence the political scene to their advantage by trying to eliminate a much more efficient competitor. The same principle applies to all traditional businesses, such as physical casino venues who are increasingly losing clients and capital to the ever emerging Bitcoin casinos and other virtual venues.

Even from a purely ideological point of view, there’s an antagonism between authoritarians and libertarians who have opposing views. So, the battle comes as no surprise, but how does it affect virtual casinos and their players?

Well, for the better or worse, regulations are slow to come because of the lacking infrastructure and understanding from government officials which is a plus for cryptocurrency sympathizers who argue that the best virtual coin is an unregulated one.

Poland, the Netherlands, and the Czech Republic also changed policy

However, the latest geopolitical trends are not positive. Governments wanting to regulate or even ban cryptocurrencies is not good for the crypto market because it discourages people from using virtual coins and destabilizes the market, meaning higher virtual casino fees, longer transaction time, less privacy, and or even casinos shutting down. For example, this year, the harshest regulations and taxes on Bitcoin casinos have been imposed by Poland, the Netherlands, and the Czech Republic.

  • Poland imposed a 12% tax on the total turnover. As if the tax wasn’t enough, the local gambling establishment can virtually impose which staff the casino must hire in order to function.
  • The Czech Republic has imposed the highest tax on unregulated gambling operators in the whole Eurozone. In fact, it comes as a double tax imposed on every game that generates a winner. Firstly, a 35% tax comes from the gross earned revenue, then, a second 19% tax comes as a corporate billing to the company.
  • The Netherlands aren’t falling too far behind this general trend with recently adopted legislation that seeks to favor the country’s local casino regulator entity, Kansspelautoriteit (KSA), in finding unlicensed casino operators on Dutch territory.
  • There’s still hope for liberty!

All in all, the recent trend is somewhat negative for virtual casinos but it doesn’t seem to be contagious, as many other countries, such as Romania, are opening their doors to casinos by overhauling a 2014 law which granted jurisdictions to tax large amounts of sums from casinos. Such a positive trend is present in all of Eastern Europe as legislation relaxes and people’s avidity grows, perceiving gambling as a viable way of getting rich, whereas the West is more economically stable and fewer people see it ‘as a way out’.

But in all this uncertainty, both literally and figuratively, how can the people decide for themselves? How does one influence the current system of affairs in order to pursue liberty and self-determination?

Common sense dictates that the only way a cryptocurrency user can influence the political force is through legal action and pressure against the government representatives, but such power is limited unless it’s exercised in big numbers, which seems unplausible at the time. Maybe when cryptocurrency is no longer seen as just a new type of money, but as a beacon of prosperity and freedom, the people will galvanize enough to send a strong message to governments around the world and tell them that there’s no need for such an unnatural influence on the markets, real or virtual. Maybe only then the monopoly will stop.

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