UK Gambling Authorities Confirm Bitcoin as Cash EquivalentWith the recent changes to their licensee code of practice, the UK Gambling Commission, who oversee the gambling industry within the UK, has noted that it now considers digital currencies a cash equivalent payment system for gambling purposes. This move could be significant as it opens up a huge opportunity for the cryptocurrency industry, with UK gambling with around £4 Billion a year. Digital currencies themselves are ideal for such applications, and could begin to make inroads with a new user base when the advantages over existing fiat payment systems become clearer.
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