Betting law ignores technology and encourages clandestinity

[GxSTxV]

As long as most countries remain indecisive about incorporating cryptocurrencies into the different payment methods of any person’s life, Brazil or any other countries that are following US, means they will continue to reject the idea due to some excuses such as concerns about money laundering and knowing the financial sources or any individual. It's wrong to assume that individuals laundering money would risk their identities by depositing funds in casinos (rarely some idiots are doing it).

These regulations are missing a common sense and governments are unnecessarily complicating the adoption of this new technology for both involved. The Brazilian government appears to be closely monitoring updates from the USA, which means if the US regulates cryptocurrencies and Bitcoin, Brazil is likely to reconsider this current law because in my opinion they don’t know what they are doing.

[Forsyth Jones]

The brazilian Senate approved the bill that allows gambling in Brazil, with casinos, bingo, etc. duly under regularization.

Casinos must operate in integrated leisure complexes or on vessels specifically designed for this purpose. According to the proposal, these complexes must contain, at a minimum, high-standard hotel accommodation, places for meetings and social events, shopping centers, restaurants and bars.

Casinos will be able to explore card games, such as blackjack or baccarat, electronic games and roulette, among other authorized modalities

Link

Among so many negative news, finally some good news in the sector, although regulated.

[Hispo]

....

Even though those seem to be good news for the gambling sector in Brazil, it would seems it still does not have anything to do with cryptocurrency or the fact people can use Bitcoin and cryptocurrency to gamble. It is a first step, no doubt about it, but if regulators and law makers give much priority to the FIAT gambling sector and do not keep things straight with the Bitcoin gambling sector within the country, then clandestinity will continue to surge and stay high among casinos affected by the lack of rules. Makes me wonder if politicians somehow have a deal with the FiAt/brick and mortar casinos, for them to be more favored with new regulations than crypto casinos.

[AmoreJaz]

The brazilian Senate approved the bill that allows gambling in Brazil, with casinos, bingo, etc. duly under regularization.

Casinos must operate in integrated leisure complexes or on vessels specifically designed for this purpose. According to the proposal, these complexes must contain, at a minimum, high-standard hotel accommodation, places for meetings and social events, shopping centers, restaurants and bars.

Casinos will be able to explore card games, such as blackjack or baccarat, electronic games and roulette, among other authorized modalities

Link

Among so many negative news, finally some good news in the sector, although regulated.

I guess, we can't escape from government's regulation these days. It is already like a part of every legal business, otherwise, you are illegally operating and won't last very long. Also, this regulation will give income to the community as they have taxes to pay.
When it comes to ignoring the crypto payment as means of payment method, I believe sooner or later, they will change stance also on this matter. Because crypto gamblers will always find a way how to access crypto sites. So if they learned that their people is still into crypto, then high likely that they will change their payment protocols to at least get their share from this type of payment.

[Forsyth Jones]

I guess, we can't escape from government's regulation these days. It is already like a part of every legal business, otherwise, you are illegally operating and won't last very long. Also, this regulation will give income to the community as they have taxes to pay.
When it comes to ignoring the crypto payment as means of payment method, I believe sooner or later, they will change stance also on this matter. Because crypto gamblers will always find a way how to access crypto sites. So if they learned that their people is still into crypto, then high likely that they will change their payment protocols to at least get their share from this type of payment.

I don't know, brazilians are very accommodating people, they accept things easily, which is why these arbitrary decisions happen frequently. For them, pix is ​​much more convenient, as easy as bitcoin, but without its network fees, there are no fees on pix.

But for brazilians who know the value and importance of bitcoin and crypto, they should boycott these casinos that follow strict laws to transfer bitcoin to casinos abroad.

[Fivestar4everMVP]

The new brazilian law that regulates online betting excludes the use of payments with cryptocurrencies, bank slips, cash or any alternative deposit payment method that could hinder the origin of resources and government fiscal control over the platforms and customers of the casino.

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

The rules are exclusive to casino companies operating in Brazil. Therefore, casinos outside this territory will not be affected and Brazilian users who have accounts in these casinos abroad can continue using these platforms, as regulations cannot stop them.

Once again the brazilian government is going against innovation and proving to be stupid.

For more details, access the full article here.

The fight against crypto innovations and intergretion into our various systems by the government is not something that is peculiar to the Brazilian government alone, majorly every country in the world (aside from those that have made bitcoin a legal tender) are fighting the use of cryptocurrencies in one way or another.

Come to Nigeria and you did meet a worser fight against crypto, though the Nigerian government currently careless about gambling casinos, and do not care what form of currency that the casinos operating within the country intergretes into their system as a means of deposits and withdrawals, but in general terms, the government doesn't want the existence and use of crypto in the country, and I think it's obvious what they are afraid of.

[ThemePen]

The fight against crypto innovations and intergretion into our various systems by the government is not something that is peculiar to the Brazilian government alone, majorly every country in the world (aside from those that have made bitcoin a legal tender) are fighting the use of cryptocurrencies in one way or another.

Come to Nigeria and you did meet a worser fight against crypto, though the Nigerian government currently careless about gambling casinos, and do not care what form of currency that the casinos operating within the country intergretes into their system as a means of deposits and withdrawals, but in general terms, the government doesn't want the existence and use of crypto in the country, and I think it's obvious what they are afraid of.

Many governments around world are hesitant to accept cryptocurrencies like bitcoin. Nigeria is good example where the government allows gambling casinos but tries to stop cryptocurrency use. Governments are worried about losing control over money mostly have fear of money laundering. While their worries make sense stopping cryptocurrency progress might not be best solution. Instead governments should find ways to regulate and educate people about crypto so they can benefit from it while addressing their concerns.

[ethereumhunter]

I guess, we can't escape from government's regulation these days. It is already like a part of every legal business, otherwise, you are illegally operating and won't last very long. Also, this regulation will give income to the community as they have taxes to pay.
When it comes to ignoring the crypto payment as means of payment method, I believe sooner or later, they will change stance also on this matter. Because crypto gamblers will always find a way how to access crypto sites. So if they learned that their people is still into crypto, then high likely that they will change their payment protocols to at least get their share from this type of payment.

I don't know, brazilians are very accommodating people, they accept things easily, which is why these arbitrary decisions happen frequently. For them, pix is ​​much more convenient, as easy as bitcoin, but without its network fees, there are no fees on pix.

But for brazilians who know the value and importance of bitcoin and crypto, they should boycott these casinos that follow strict laws to transfer bitcoin to casinos abroad.

It will not easy to boycott the regulation from the government. That can makes their government becomes more strict with the gambling and will makes another regulation that will not be good for the gamblers. The only things that their people can do is just accepts the regulation but they will find a way so they can still playing gambling with usual.

The government wants to gets additional income from the gambling industry so they makes other regulations that seems to be difficult for the gamblers. The other governments will also doing the same things. They make many new regulations to control people who uses crypto because they wants to apply taxes for their people. The governments should find a way to control their people, especially those who often playing gambling and not just limiting the access for people to use crypto.

[$weetne$$]

The rules are exclusive to casino companies operating in Brazil. Therefore, casinos outside this territory will not be affected and Brazilian users who have accounts in these casinos abroad can continue using these platforms, as regulations cannot stop them.

The government of Brazil has a reason why they have introduced this rule, it could be because they are not able to monitor the casinos in the country to get an exact value of money that they are receiving to monitor their taxes or they are trying to make cryptocurrency not to have value in the country because as people can use it for gambling also deposit is more convenient than fiats, people will start buying cryptocurrency to hold and this will increase the adoption in the country. The government introducing this new law has a reason and they are the ones that know why because it does not make any sense to me. Since the law does not affect foreign casinos, I do not see it having any effect because of I was a Brazilian I could still gamble on foreign casinos.