http://www.newsbtc.com/2016/05/01/isle-of-man-may-soon-be-the-online-crypto-gambling-destination/True to its intention of becoming the Bitcoin capital, Isle of Man has recently decided to relax its gambling laws to include bitcoin and digital currencies.
The Gambling Supervision Commission has called for a limited consultation for a period of one month, starting April 20, 2016, till May 20, 2016, with an intention of revisiting the existing gambling regulations and updating it to meet today’s standards.
According to the document, the Gambling Supervision Commission has shortlisted 6 changes that can be incorporated to Isle of Man’s existing gambling regulations. These proposed changes, according to the document includes –
* making changes to the regulations to allow the digital currency to be accepted just like cash
...by making bitcoin and other digital currencies legally acceptable by all online gambling services operating out of the country, the Isle of Man Gambling Supervision Commission is not only attracting domestic customers, but virtually anyone from across the globe with a working internet connection and digital currency to spare for gambling.
Until now, a full gambling license holder could only sub-license games to other providers minus the back office operations. If the proposed changes are adopted, then the licensee will be able to sub-license the back office operations concerned with the sub-licensed games along with a range of live betting and lotteries as well.