Who is to blame

[Crypt0Gore]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

[1715057794]

1715057794

[1715057794]

1715057794

[Oshosondy]

Nobody is to be blamed, if there is not regulation, criminality would be more than it is now while humans have bad thinking nature.

Money laundering, terrorism financing and other online criminal activities led to regulation, regulation led to KYC. But the funniest thing is that online criminal activities only slightly reduced, there are still many occuring.

[Mr. Magkaisa]

   -  As @Oshosondy said when a casino is regulated it is normal for a casino like this to ask for KYC. If you look at it from another angle, there is also a good reason for active gamblers to keep their funds or assets safe on a gambling platform.

Because if there is no KYC policy, although I don't agree with everything, the risk that a gambler's account can face in a casino is higher anyway.

[fortunecrypto]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated?

If you're a casino operator would you want your casino a transit for dirty money, are you ok with scammers playing in your casino to launder their dirty money, they will be safe but you will be targeted by authorities for not implementing a KYC to know the people who are playing in your casino, you will end up being accused of conniving with these scammers

I mean in the past there is no regulation thing pointed to online casino

Because gamblers are using credit cards and bank accounts so even if they do not ask for KYC they know who the people playing in their casinos

but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

It's very necessary for the protection of both gamblers and casino operators, the authorities know how scammers work and they know that they are using casinos to launder money.

[swogerino]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

I think that this has been a requirement in FIAT casinos long before now,especially in the big FIAT ones like bet365 if you didn't verify yourself you would only play with limited amount of money which if I remember correctly it was 500 EUR as that is an amount which is not prone to money laundering because it is a small one.

In crypto I think they operate the same now as it is a requirement this KYC,so they let you withdraw up to a certain amount without KYC but if you keep playing regularly with bigger amounts you need to be verified in order for the withdraws to pass,so no one is to blame.

[Wexnident]

KYC is and was not made due to online casinos (or anything online-specific really). It's always been a thing, always been used and asked in physical stores, much more specifically when it comes to casinos though since they are avenues for money laundering schemes. I mean just look at banks, it didn't take any online for it to ask users for KYC, mostly because it's done for security purposes.

Regulations came and became updated because of crimes, and not because of casinos, or KYC. Casinos only comply simply because they need to otherwise they're not getting any work done. It's all part of development imo, I mean, I don't think KYC exists back then but due to crimes about it being known and announced more and more, well, laws about it were then made.

[Yogee]

Someone correct me if I'm wrong on this but crypto casinos before operated without license. I bet one of the main reason they decided to get one is that more users are asking for it so they complied to the demand. The license providers require KYC as part of AML policy so these casinos are also forced to implement that. Who would you blame in this case?

[Solosanz]

What did you mean? why casino that ask KYC of the gambler is wrong? does the regulation that force every casino must submit KYC is wrong? and does the gambler that doesn't want to submit KYC is wrong?

1. Casino ask KYC because they're combating against money laundering and multi account abuse, they ask KYC in order to prevent that happen.
2. Regulation and government are centralized, they're want to control everything that they can.
3. It's up to every gambler who willing to submit their KYC, if they don't want to submit KYC they will don't have any choice to choose a casino.

No one is going to be blame, it's up to you.

[piebeyb]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

You have to adapt to the existing regulations because almost all casinos have regulations which of course are done to tackle crime and money laundering, actually you can look for a decentralized casino without having to fill in KYC you just need to connect your wallet to play casino, it all depends on the choice you, there is nothing to blame, everything just returns to yourself

[ethereumhunter]

No one is to be blamed for this because it has become an unwritten rule. If something becomes famous and popular and can get something valuable, there must be a group of people who will think that they can take part in getting that something, which comes from the government side. The government requires casinos to comply with regulations made by the government, including KYC for casino members. The government is also not to be blamed because they want to get income tax from the casinos, which are sure to get more revenue. Even though casinos have paid income tax to the government, there is still a lot of casino income. So we can only enjoy it the way it is and still have the option to play at casinos that haven't implemented KYC thoroughly.

[boyptc]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated?

Regulations required casinos to ask for KYC.

Even if the casino don't want to ask KYC to its customers, they're just obeying what the rules of the government that they're part of.

But there's still some measures on it, like if you're a small time gambler, you can still gamble without the worry of being asked for KYC.

[dothebeats]

Well sooner or later the governments will try and encroach the casino business and impose KYC anyway, and no one is to blame for the government's decision to pass these regulations. It is bound to happen; there is money in online gambling and the government has to make sure that it doesn't become an avenue for money laundering and other illicit activities. Even online platforms don't want to impose these things surely, but even if they refuse they will be obliged anyway, or else have their businesses closed.

[decodx]

Yes, I think that's correct. More regulation in the online gambling industry has certainly contributed to the increase in KYC (Know Your Customer) requirements. The KYC process is a way for online gambling companies to verify the identity of their customers and ensure that they are not engaged in illegal activities such as money laundering or financing terrorism.

However, it is also true that some unregulated online gambling platforms may require KYC from their customers. These are platforms that should be avoided at all costs. Unregulated online gambling platforms are not subject to the same regulatory oversight as licensed and regulated platforms, and as a result, they may not have the same safeguards in place to protect customers. This means that customers who participate in illegal gambling activities may be at risk of fraud or financial loss, and they may also face the risk that their personal data will be stolen and sold on black markets, which can cause very serious negative consequences. As a result, it is generally not recommended to engage with these types of platforms, as they may not have adequate measures in place to protect your personal and financial information. In addition, they may not be able to provide the same level of consumer protection as regulated platforms, which could leave you vulnerable to fraud or other types of harm.

[gunhell16]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated?

Regulations required casinos to ask for KYC.

Even if the casino don't want to ask KYC to its customers, they're just obeying what the rules of the government that they're part of.

But there's still some measures on it, like if you're a small time gambler, you can still gamble without the worry of being asked for KYC.

But sometimes other casinos are not regulated that's why they still ask for KYC from their client user when it releases a large amount on their platform. Isn't what the casino implements also violate the rules.

Because as always mentioned due to regulation, KYC becomes a requirement for users of a gambling casino here in cryptocurrency.

[Coin_trader]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

You probably missing the point. Online Casino is now being regulated since many country is already adapting the use of cryptocurrency and already have a law to charge tax on it and online casino is not an exception to this since there’s a lot of free money circulating on it untaxed before.

Online casino is not regulated before because Bitcoin and crypto market in general is still on gray area at that time which most of the country doesn’t have a law prepared on how they will tax crypto. Regulation is part of the adaptation of cryptocurrency to make the operation of online casino legal. KYC is inevitable in the future and there’s nothing to be scared if you don’t do shady things such as laundering.

Our only concern on this mandatory KCY is how will casino operators can guarantee the safety of our data submitted to them.

[hyudien]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

Crypto adoption is increasing and casinos have one of the roles where crypto gambling is now far more massive than gambling using fiat money. In addition, the competition between casinos has also brought them to their attention as the government is aware of the large influx of funds going into gambling via crypto. Instead of those who operate without legality, inevitably the current casino will follow regulations in order to continue to operate properly and profitably.

[Saisher]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

I'm ok with KYC and regulation it keeps the Cryptocurrency gambling industry safe from abuse from bad actors, authorities are on the track of money laundering because without regulation it's easy for a terrorist to wash their money, they have to regulate it, any platform where there is a continuous transaction of money have to be regulated for the transaction and they should have a license so they are transparent on their goal to be an online casino, that gives entertainment for people who are looking for it.

[mindrust]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

The governments are responsible for this mess. They want to control everything and everybody. They don't want anybody to do anything without their permission. The casinos are also responsible because they still haven't ditched FIAT completely. See freebitco.in they don't deal with FIAT or stable coins and they don't do any KYC. They don't have any licenses too.

It is that simple to get rid of KYC:

Do no license

Do no FIAT

[BRINIRHA]

actually there is no problem with the KYC requirements although some may not be comfortable with it. But this is precisely to increase security and I appreciate that. Regulation is needed in maintaining security and order. supervision is sometimes necessary to make it happen. and KYC is one of the obligations to make it happen.

[BobK71]

Criminals usually look for different ‍scopes how to commit crimes and hide them securely. Criminals can take advantage of these platforms when KYC is not required in any gambling or casino. It can also be used to transfer funds to carry out terrorist activities, including money laundering. When such plans are made, the governments of different countries also take a proper role in this matter. They make regulations so that those criminals cannot take any chances. KYC can be a initial process for gambling. There is no way to see it differently. Moreover, a service provider should keep proper information about its clients. both sides can benefit in this case.