Liberalization of cryptocurrency in Ukraine - attractiveness for Gambling ?!

[goinmerry]

At the moment, Ukraine has already adopted laws that significantly liberalize the position of the cryptocurrency in the domestic market. There are many plans to further expand the ability to apply and use cryptocurrency in different areas of the economy. Considering that the gambling business (casinos, slot machines, etc.) in Ukraine is also well developed and formalized, what can you say about the investment potential of Ukraine for the Gambling direction?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Their plan is good. They really construct a newly terms and regulations about their gambling involving cryptocurrency.

But just a question, is Ukraine a crypto-friendly before or just thinks of adopting crypto recently?

If it's the former then I see adopting crypto to their gambling business will boost the adoption of cryptocurrencies there specifically bitcoin.

[crzy]

At the moment, Ukraine has already adopted laws that significantly liberalize the position of the cryptocurrency in the domestic market. There are many plans to further expand the ability to apply and use cryptocurrency in different areas of the economy. Considering that the gambling business (casinos, slot machines, etc.) in Ukraine is also well developed and formalized, what can you say about the investment potential of Ukraine for the Gambling direction?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Their plan is good. They really construct a newly terms and regulations about their gambling involving cryptocurrency.

But just a question, is Ukraine a crypto-friendly before or just thinks of adopting crypto recently?

If it's the former then I see adopting crypto to their gambling business will boost the adoption of cryptocurrencies there specifically bitcoin.

They are crypto friendly since 2018 as far as I know and now they are soon to legalize Bitcoin as a legal tender so I believe they are crypto friendly. If they make a good changes on their gambling policy that includes crypto gambling, then that could be a more good news for crypto users and they might also offer services outside their country so they can reach more people. I'm hoping as well that my country sees the importance of cryptocurrency nowadays, legalizing Bitcoin is always the target.

[harizen]

At the moment, Ukraine has already adopted laws that significantly liberalize the position of the cryptocurrency in the domestic market. There are many plans to further expand the ability to apply and use cryptocurrency in different areas of the economy. Considering that the gambling business (casinos, slot machines, etc.) in Ukraine is also well developed and formalized, what can you say about the investment potential of Ukraine for the Gambling direction?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?

Why not? In crypto-gambling, what matters for me are features, promotions, bonuses, etc. regardless of where the site is registered or established.

- To become a key set of "features" for you that would attract you?

Don't have a specific answer to this. It's like if there's something "unique" and "good", it will attract me.

- What will be negative for you when placing gambling sites in Ukraine?

Hmmm. Maybe if there's part of the terms that I don't prefer. One example is, mandatory KYC and restricted locations. I also has a habit of using VPN.

[goinmerry]

At the moment, Ukraine has already adopted laws that significantly liberalize the position of the cryptocurrency in the domestic market. There are many plans to further expand the ability to apply and use cryptocurrency in different areas of the economy. Considering that the gambling business (casinos, slot machines, etc.) in Ukraine is also well developed and formalized, what can you say about the investment potential of Ukraine for the Gambling direction?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Their plan is good. They really construct a newly terms and regulations about their gambling involving cryptocurrency.

But just a question, is Ukraine a crypto-friendly before or just thinks of adopting crypto recently?

If it's the former then I see adopting crypto to their gambling business will boost the adoption of cryptocurrencies there specifically bitcoin.

They are crypto friendly since 2018 as far as I know and now they are soon to legalize Bitcoin as a legal tender so I believe they are crypto friendly. If they make a good changes on their gambling policy that includes crypto gambling, then that could be a more good news for crypto users and they might also offer services outside their country so they can reach more people. I'm hoping as well that my country sees the importance of cryptocurrency nowadays, legalizing Bitcoin is always the target.

Thanks for the information. Since they will soon making bitcoin as legal tender just like what El Salvador did, it's expected now that they are implenting and adopting bitcoin slowly in usual businesses and establishments. In the side of gambling, since it's more sensitive than the other industries, Ukraine really needs to create and form strict laws and restriction about the use of cryptocurrencies in their gambling.

But is that will lead for a centralized gambling in crypto? It might turned as how fiat gambling on that country is regulated. Not a good news I guess for the majority of crypto gamblers.

[Wexnident]

Well, it isn't out of the question for them to set up a crypto casino, but I don't think it matters much where it came from? Sure, it may release them from some specific requirements but I hardly doubt it would affect their overall operations THAT much. Not to mention that there are a bunch more of other crypto casinos out there that are much more reputable. If they were to create an offline casino with crypto payments then maybe though honestly it doesn't sound that appealing since you can play online with it anyway. A cross between fiat and crypto may work out though.

[Wakate]

Many gamblers are ready to play on sites located in Ukraine as long as those sites do not have complicated rules and do not apply KYC for crypto players. As I said, if gamblers know the site does not require KYC, they will try to play on that site and maybe if they can feel comfortable playing on that site, they will stay for some time.

The negative thing that can happen is that people from other countries can slowly become addicted to gambling, which can trigger a new problem for their government. But that will depend on each gambler and if they can have self-control, they do not have to worry about that.

The KYC issue goes beyond local legislation and is part of international legislation aimed at obtaining illegal profits, concealing income, money laundering, etc. illegal actions. It is not believed that officially licensed online casinos will risk violating such laws, which is highly likely to lead to the revocation of the license, at least, and at most also fines. I understand that anonymity is one of the unique advantages, but this property contradicts the KYC, unfortunately

Maybe those casinos need to modify the KYC process or verification to work globally, especially for a casino website that hosts in Ukraine or maybe changing their whitelist countries for gamblers who want to play gambling on their site. Hence, there is no chance for gamblers on the blacklist countries to play gambling on that site. I do not think that licensed online casinos will violate their regulations because they will get a warning from the country.

Kyc had been a problem many person are trying the possible best to prevent because of the rails involved. This might even make the country to request for Kyc of there gamblers in the country if things get worse. Dropping your identification on gambling site looks irrational to me. For what? When there is still hundreds of gambling sites that do not need kyc.

[DrBeer]

Well, it isn't out of the question for them to set up a crypto casino, but I don't think it matters much where it came from? Sure, it may release them from some specific requirements but I hardly doubt it would affect their overall operations THAT much. Not to mention that there are a bunch more of other crypto casinos out there that are much more reputable. If they were to create an offline casino with crypto payments then maybe though honestly it doesn't sound that appealing since you can play online with it anyway. A cross between fiat and crypto may work out though.

Here is another part of the question - this is investment attractiveness, for example, why, given the current trends, Ukraine does not become a new virtual center for gambling, such as Monaco and the like?
But with a significant advantage - not only the center of virtual gambling sites, but also cryptocurrency payments, and / or their combination, this is me about solutions from the field of cryptocurrency virtual gambling sites. For example, Monaco officially allows accepting cryptocurrency bets, exchanging, and withdrawing fiat / crypto?

[chaser15]

Well, it isn't out of the question for them to set up a crypto casino, but I don't think it matters much where it came from? Sure, it may release them from some specific requirements but I hardly doubt it would affect their overall operations THAT much. Not to mention that there are a bunch more of other crypto casinos out there that are much more reputable. If they were to create an offline casino with crypto payments then maybe though honestly it doesn't sound that appealing since you can play online with it anyway. A cross between fiat and crypto may work out though.

Here is another part of the question - this is investment attractiveness, for example, why, given the current trends, Ukraine does not become a new virtual center for gambling, such as Monaco and the like?
But with a significant advantage - not only the center of virtual gambling sites, but also cryptocurrency payments, and / or their combination, this is me about solutions from the field of cryptocurrency virtual gambling sites. For example, Monaco officially allows accepting cryptocurrency bets, exchanging, and withdrawing fiat / crypto?

Monaco and Ukraine do have a wide gap. Monaco already achieved the highest point of gambling status there. On the part of Ukraine, we can say they are still in the progress of working as a wide stream gambling center where they accept crypto and fiat. Give them time and they will reach and achieved soon that status.

Well, it isn't out of the question for them to set up a crypto casino, but I don't think it matters much where it came from? Sure, it may release them from some specific requirements but I hardly doubt it would affect their overall operations THAT much. Not to mention that there are a bunch more of other crypto casinos out there that are much more reputable. If they were to create an offline casino with crypto payments then maybe though honestly it doesn't sound that appealing since you can play online with it anyway. A cross between fiat and crypto may work out though.

Correct. Casinos operating under the Ukraine regulations or license won't be that noticeable in crypto-gambling due to the fact that there are now big and dominant crypto-gambling sites that everyone is mostly used.

Maybe others will just try a casino under Ukraine jurisdiction or any other license source if there's something interesting on that casino that's nowhere to be found in other sites.

[ralle14]

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Probably no, i'm willing to check out casinos that are registered in Ukraine or any country as long as they don't have KYC but on the other hand knowing that the government is in involved then KYC is inevitable.

In crypto gambling sites, some features that I like are the instant deposits and withdrawals. Having some adaptability and reward system like vips would be nice as well.

The downsides that I don't like is high minimums specifically the deposits and withdrawals. If it's only limited to Ukraine based gambling sites it's most likely the KYC due to the regulations of the government.

[fiulpro]

At the moment, Ukraine has already adopted laws that significantly liberalize the position of the cryptocurrency in the domestic market. There are many plans to further expand the ability to apply and use cryptocurrency in different areas of the economy. Considering that the gambling business (casinos, slot machines, etc.) in Ukraine is also well developed and formalized, what can you say about the investment potential of Ukraine for the Gambling direction?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Even before crypto was not legal, you go walk around, you are bound to find high end gambling places, with sports betting and everything as well. Situated right next to a bar and a currency exchange lol. Sums up how much people love to drink and gamble here.

What I do know is, with cryptocurrencies people would have more opportunities and most of these physical casinos will be located around center.

Taking about gambling sites, I do think it's important to make sure they are using English as well and is better made, since online ukranian sites are something that has a lot of unexplored potential. It's not that good.

[Twinkledoe]

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Probably no, i'm willing to check out casinos that are registered in Ukraine or any country as long as they don't have KYC but on the other hand knowing that the government is in involved then KYC is inevitable.

In crypto gambling sites, some features that I like are the instant deposits and withdrawals. Having some adaptability and reward system like vips would be nice as well.

The downsides that I don't like is high minimums specifically the deposits and withdrawals. If it's only limited to Ukraine based gambling sites it's most likely the KYC due to the regulations of the government.

High likely that they will implement KYC to track Ukranian players. Otherwise, they will just tax the casino itself, that is, if it is operating under Ukraine. And nowadays, a lot of crypto gamblers are looking for sites without KYC as well as no restrictions when it comes to their originating country. And luckily, there are really reputable casinos here that doesn't require both.

[UmerIdrees]

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Probably no, i'm willing to check out casinos that are registered in Ukraine or any country as long as they don't have KYC but on the other hand knowing that the government is in involved then KYC is inevitable.

In crypto gambling sites, some features that I like are the instant deposits and withdrawals. Having some adaptability and reward system like vips would be nice as well.

The downsides that I don't like is high minimums specifically the deposits and withdrawals. If it's only limited to Ukraine based gambling sites it's most likely the KYC due to the regulations of the government.

High likely that they will implement KYC to track Ukranian players. Otherwise, they will just tax the casino itself, that is, if it is operating under Ukraine. And nowadays, a lot of crypto gamblers are looking for sites without KYC as well as no restrictions when it comes to their originating country. And luckily, there are really reputable casinos here that doesn't require both.

When the crypto will become legal in any country like Ukraine, it will bring boom in many industry which are directly linked with crypto. Gambling is one the industry which will be most benefit from it. However i think the KYC data from the Ukraine gambling sites should be shared with government so that they can get taxes but this will make people not using the Ukraine sites and play on international gambling sites.

[michellee]

High likely that they will implement KYC to track Ukranian players. Otherwise, they will just tax the casino itself, that is, if it is operating under Ukraine. And nowadays, a lot of crypto gamblers are looking for sites without KYC as well as no restrictions when it comes to their originating country. And luckily, there are really reputable casinos here that doesn't require both.

KYC and the taxes will be the Ukrainian government to know the background of the players because they want to check that people who visit on the gambling site or casino related to the illegal thing or are just playing gambling because of having fun. Crypto gambling users will search for the casino that does not require both KYC and tax to just playing gambling and so far, they already have many lists of the casino they want.

[tabas]

I'm just excited to see that how they'll make it better for the gamblers to visit those Ukrained registered online casinos.
There's a big competition on this but they can be the oligarch on their own country and leading those gamblers not to gamble with any other casinos but only to the registered one on their country.

[DrBeer]

Well, it isn't out of the question for them to set up a crypto casino, but I don't think it matters much where it came from? Sure, it may release them from some specific requirements but I hardly doubt it would affect their overall operations THAT much. Not to mention that there are a bunch more of other crypto casinos out there that are much more reputable. If they were to create an offline casino with crypto payments then maybe though honestly it doesn't sound that appealing since you can play online with it anyway. A cross between fiat and crypto may work out though.

Here is another part of the question - this is investment attractiveness, for example, why, given the current trends, Ukraine does not become a new virtual center for gambling, such as Monaco and the like?
But with a significant advantage - not only the center of virtual gambling sites, but also cryptocurrency payments, and / or their combination, this is me about solutions from the field of cryptocurrency virtual gambling sites. For example, Monaco officially allows accepting cryptocurrency bets, exchanging, and withdrawing fiat / crypto?

Monaco and Ukraine do have a wide gap. Monaco already achieved the highest point of gambling status there. On the part of Ukraine, we can say they are still in the progress of working as a wide stream gambling center where they accept crypto and fiat. Give them time and they will reach and achieved soon that status.

Well, it isn't out of the question for them to set up a crypto casino, but I don't think it matters much where it came from? Sure, it may release them from some specific requirements but I hardly doubt it would affect their overall operations THAT much. Not to mention that there are a bunch more of other crypto casinos out there that are much more reputable. If they were to create an offline casino with crypto payments then maybe though honestly it doesn't sound that appealing since you can play online with it anyway. A cross between fiat and crypto may work out though.

Correct. Casinos operating under the Ukraine regulations or license won't be that noticeable in crypto-gambling due to the fact that there are now big and dominant crypto-gambling sites that everyone is mostly used.

Maybe others will just try a casino under Ukraine jurisdiction or any other license source if there's something interesting on that casino that's nowhere to be found in other sites.

On the first point I absolutely agree - it's silly to argue that Monaco has years of development of the gaming market behind it, this is a powerful advantage. But for example, a noticeably lower tax and additional attractive conditions (tax holidays, installments when buying a license, etc.) are competitive advantages that can be attractive. Until a decision is made to transfer the company to another jurisdiction.

[robelneo]

At the moment, Ukraine has already adopted laws that significantly liberalize the position of the cryptocurrency in the domestic market. There are many plans to further expand the ability to apply and use cryptocurrency in different areas of the economy. Considering that the gambling business (casinos, slot machines, etc.) in Ukraine is also well developed and formalized, what can you say about the investment potential of Ukraine for the Gambling direction?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?

Why not we should welcome new players in the industry we should give Ukraine based or registered based gambling sites as long as they offer the same compliant and protection like those being offered by established gambling license issuers,

 

To become a key set of "features" for you that would attract you?

As long as gambling sites located in Ukraine are reputable and they adhere to government compliant of being fair to their players I will nbot ask for me

- What will be negative for you when placing gambling sites in Ukraine?

I will not discriminate when it comes to what country a gambling site is based in as long as they are fair and compliant and they know how to listen to what the gambling community ask or recommend

[Woodie]

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?

If its a good website I wouldn't mind and btw whoever is running a gambling business that is online they need to to limit their reach to only Ukrainians let them expand their business to include people from all parts of the world because with cryptocurrencies the possibilities are endless.

- What will be negative for you when placing gambling sites in Ukraine?

Maybe language barrier would be the only thing but as far as i know most of these site are multilingual so this isn't much of a problem besides this maybe KYC requirements would be a hindering factor.

[Slow death]

in order for cryptocurrency-related gambling sites to start going to ukraine license or even locate in ukraine they would need to see if ukraine's laws regarding gambling are advantageous or not. if ukraine has tough laws, has high taxes then it won't attract gambling site owners and this doesn't just apply to gambling, it even applies to exchanges.

does anyone here know what is the requirement to have a gambling license in ukraine for this discussion to be more interesting?

[qwertyup23]

The location for a cryptocurrency casino is not that important. I doubt that many players even know where the online casinos they play at have their headquarters. A casino can become trustworthy with or without a gambling license, and I have never heard of a Ukrainian gambling provider that deals with crypto. Usually, when gambling licenses are acquired, the platforms have to conduct stricter security checks of their players. That doesn't suit those who play with crypto. So, as long as anonymity is preserved and players aren't getting cheated, I wouldn't find it troublesome to play at an Ukrainian casino.   

I do think that what makes or breaks the potential players of a casino is the "KYC function" where it slightly defeats the purpose of anonymity. While I do understand that government regulations or laws require gambling establishments to have KYC documents, this would backlash against the business as most gamblers nowadays avoid such function and registration.

With regard to Ukraine's potential attractiveness for gambling, this would still depend on the tax imposed by the government. If the tax is not that abusive, then it definitely has potential to attract and start a new business of online gambling in the country using cryptocurrencies.

[Silberman]

At the moment, Ukraine has already adopted laws that significantly liberalize the position of the cryptocurrency in the domestic market. There are many plans to further expand the ability to apply and use cryptocurrency in different areas of the economy. Considering that the gambling business (casinos, slot machines, etc.) in Ukraine is also well developed and formalized, what can you say about the investment potential of Ukraine for the Gambling direction?

- Are you ready to potentially play on sites that will be located, or will be registered, in Ukraine?
- To become a key set of "features" for you that would attract you?
- What will be negative for you when placing gambling sites in Ukraine?

Everything is going to depend on whether or not they think there is a demand for this, I mean accepting bitcoin for the casinos cannot be too different than what they are already doing, they just need to accept a bitcoin deposit and then give you some chips and when it is time to leave then they can pay you in either bitcoin or fiat, and if you choose bitcoin then they pay you with bitcoin at the current rate, they do not even need to have some bitcoin stored, they could buy it right there and give it to you, so I do not think there could be any issue with the implementation of something like this.