Is Curaçao finally getting Serious about Crypto Gambling Regulation?

[Agbe]

As Charles-Tim as said, many companies are looking at the price of the issuing the license and not the rules. So if the price is good for companies to launch their brand, they will still use the Curaçao license if the price term is still good for them to pay. And those rules will also make them to be in good shape to render a good services to the gambling community.

[freedomgo]

Meanwhile, there is still Anjouan Gaming as an alternative license casinos can use which should be much laxer. However who knows how long will that last.

I have a feeling they will follow the same path, so casinos should enjoy it while it is still available.

But overall, we can already see the future of crypto gambling. It is no longer what we once imagined, something very opposite from fiat casinos. Now it looks like they are going in the same direction, with similar regulations where governments want to track even the money going in and out.

[Russlenat]

As Charles-Tim as said, many companies are looking at the price of the issuing the license and not the rules. So if the price is good for companies to launch their brand, they will still use the Curaçao license if the price term is still good for them to pay. And those rules will also make them to be in good shape to render a good services to the gambling community.

But you know, that is not what most bettors would want. If the rules are too strict in a certain casino, they might just choose not to gamble there anymore. What many gamblers actually want is privacy, and that means they do not want KYC. With strict rules, you will be required to complete KYC before gambling, just like with Stake. They are heavily regulated, so they cannot accept gamblers without KYC.

As for the price, I think it is not that high compared to what casinos could potentially earn since they operate nonstop. But without customers, they will not make money. So for me, the lack of strict regulation is one of the things casinos use to attract more gamblers.

[Smartprofit]

I'm afraid online casinos won't be able to find another liberal, licensed provider. All these bans and restrictions are linked to the strict stance of the FATF. All countries (even those already under international economic sanctions) fear this organization. No one wants to be blacklisted as a country that encourages money laundering.🙋

I think not only Curaçao, but also Costa Rica, and all other countries, will become very demanding license providers. As a result, players at licensed casinos will lose their right to anonymity and privacy.

What will this lead to? A division of casinos into legal and illegal. Illegal casinos will not bother obtaining any licenses.

[qwertyup23]

It is high time I guess, because there are many complaints about casinos that are not regulated properly. With lax implementation, this will become a safe haven for scammers.

But whether we like it or not, this is already the path we are going because crypto regulations are getting stricter globally. Those supposed no KYC casinos will eventually require KYC even the moment you sign up. Now it is still okay to play without KYC and later they will just ask once your account reaches the threshold or whatever requirements they set.

Not only do gambling casinos have been strict but also local exchanges were the latter asks for KYC documents for your identity, verification, and security.

With regard to gambling regulation, it has been discussed that it was inevitable at some point. With tons of online gambling casinos been created, it is just a matter of time that regulation will come into play given that a number of scam websites have been circulating also.

Remember, with regulation comes compliance. Failure to comply with the required requisites of licenses, verification, and other documents, the government will not hesitate to prohibit access for the safety of its consumers and citizens as a whole.

[Questat]

Not only do gambling casinos have been strict but also local exchanges were the latter asks for KYC documents for your identity, verification, and security.

That is already given for exchanges, but they have different regulations compared to the gambling industry. Exchanges were heavily regulated first, so it is not surprising that they are already strict when it comes to KYC and tracking transactions.

With regard to gambling regulation, it has been discussed that it was inevitable at some point. With tons of online gambling casinos been created, it is just a matter of time that regulation will come into play given that a number of scam websites have been circulating also.

Remember, with regulation comes compliance. Failure to comply with the required requisites of licenses, verification, and other documents, the government will not hesitate to prohibit access for the safety of its consumers and citizens as a whole.

Yes, and this already happened. Curaçao gaming was very popular in the past, but with this update, I wonder if most small casinos would still get a license there, knowing that compliance is now harder than before.

There was also a new one that was shared, and maybe that could become the new Curaçao-style option. But eventually, it might also end up the same as the current Curaçao, because regulators will always catch up sooner or later. The question now is where new license providers will come from, and whether they can really avoid being forced to comply with the standard regulatory requirements. I think we just have to accept the reality. If we want less hassle, then maybe prediction markets are becoming the answer.