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.

[Charles-Tim]

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.

I also like privacy, but what you posted is not true. You do not know how people are is the reason you posted like that or because you are a privacy oriented person. Stake.com is having mandatory KYC verification, but why is the gambling site has the highest customers among crypto gambling sites?

[Findingnemo]

These are more tasks for the casino operators and not really to the users, so we may not experience any difference on our end except for slight changes in the KYC verification. They can get serious but if they are going to enforce guideliness that is not easy to comply then the casino operators may switch to other ones.

[Hispo]

It catches there are going so much emphasis on the casino to have full capabilities on address analysts and also in Blockchain analysis in order not to provide liquity and mixing fund which could come from terrorist organizations or other kind of criminal organizations...
In would have assumed casinos did not have to have such capabilities and they simply needed to check a list provided by authorities and Blockchain análisis companies, so casinos would avoid to do business with those addresses.

Expecting casinos and bookies to have their own department for Blockchain analysis and address banning is quite tough if you asked me.

That a only will increase the costs of operations of the casino several thousands of dollars per month, depending on the depth of the analysis per client/gambler...

[Charles-Tim]

These are more tasks for the casino operators and not really to the users, so we may not experience any difference on our end except for slight changes in the KYC verification. They can get serious but if they are going to enforce guideliness that is not easy to comply then the casino operators may switch to other ones.

All I see about the regulations is the tracking of illicit transactions and making the gambling sites not to be involved or seized illicit coins, but privacy coins might be included

None of my business with that because the coin that I prefer most is bitcoin. If it is among the coins that the gambling sites listed, I am good with that. There is no way that any of the stable coins will not be on the gambling sites for deposits and withdrawals purposes also just like bitcoin. I did not see anything like KYC there which I have posted about before.

[alani123]

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.

Curacao license costs used to be cheap. Maybe 300$
The whole territory of Curacao had 3 licenses and these company were issuing sub licenses.

Then they completely changed it recently. $40k annually for a license issued directly for the casino. This was circa 2024.
Now they want to make the process even more expensive.

Curacao for long was considered a license just to have a title. Not so legit.
If they're trying to turn legit now surely some casinos will pounce.

[Findingnemo]

These are more tasks for the casino operators and not really to the users, so we may not experience any difference on our end except for slight changes in the KYC verification. They can get serious but if they are going to enforce guideliness that is not easy to comply then the casino operators may switch to other ones.

All I see about the regulations is the tracking of illicit transactions and making the gambling sites not to be involved or seized illicit coins, but privacy coins might be included

None of my business with that because the coin that I prefer most is bitcoin. If it is among the coins that the gambling sites listed, I am good with that. There is no way that any of the stable coins will not be on the gambling sites for deposits and withdrawals purposes also just like bitcoin. I did not see anything like KYC there which I have posted about before.

I used to stick with bitcoin for very long until recently, because stable coins are convenient to use and then it is cheaper when we withdraw that is my sole purpose. If my favorite casino is not having stable coins then it is fine for me but I doubt any casino would take such risk.

About the KYC, even though there is nothing mentioned, when they say screening and freezing then it followed by the KYC and source of funds.

[knuckey]

What do you think, can casinos still find another license provider that has lax implementation like the old Curacao? Because definitely not all of them can pass these requirements, especially those that offer no KYC or anonymous gambling

I think it's difficult. Not only is it easy to obtain a license, but not all countries have legalized crypto. So, I'm sure only a few license providers are willing to grant casino licenses. Of course, there are conditions that must be met. Without KYC? I'm sure it's even more difficult.

[Alphakilo]

What do you think, can casinos still find another license provider that has lax implementation like the old Curacao? Because definitely not all of them can pass these requirements, especially those that offer no KYC or anonymous gambling

Anjouan Gaming - This license as of now may not be too strict, fees are cheap, the process is quite fast there could be leeway in terms of KYC, I see many crypto casinos using license providers from Anjouan Gaming.

You can read the article.
https://ggrsoft.com/blog/anjouan-igaming-license/

There's always an alternative in every market setting and that is why since Curacao became more serious and stringent with their policies, Anjouan became the next best alternative on the table.
Though it is clear how non kyc requirements, zero tracking of transactions and mainstream games is slowly dying off, the issue here has more to do with the software providers than licensing companies, the hosting companies and stablecoins issuers, who are trying so hard to play it safe and within the boundaries of regulatory bodies to avoid lawsuits and prosecution that may lead to loss and heavy fines.

[Porfirii]

What do you think, can casinos still find another license provider that has lax implementation like the old Curacao?

-snip-
As I know, Malta, Isle of Man, Gibraltar, Anjouan, Comoros Islands, United Kingdom and others also guarantee licenses for online gambling sites, meaning that Curaçao is not the only one who can do that.-snip-

Anjouan Gaming - This license as of now may not be too strict, fees are cheap, the process is quite fast there could be leeway in terms of KYC, I see many crypto casinos using license providers from Anjouan Gaming.

You can read the article.
https://ggrsoft.com/blog/anjouan-igaming-license/

Gambling platforms will simply move to another licensor if Curacao makes the process difficult and expensive. Most gamblers don't care about the worth of the license; they just want quality services. I am also seeing an increase in the use of Kahnawake licenses. Operators could easily get the license within eight weeks and offer no corporate tax on gambling income.

-snip-

I would have mentioned Anjouan, which is what I'm seeing lately in many casinos, but it seems that there are many more licensors that escaped my radar (Kahnawake? ).

As you mentioned, tightening the measures is a barrier to entry in a certain sense, but if it is done in a measured way it can give greater guarantees without establishing measures that are impossible for many to comply with, which can be positive. We will have to follow this issue closely, because in recent years there have been changes that can be decisive and change the current panorama.

[Woodie]

I guess they have the systems in place to look closer at the crypto businesses using their licenses for international business, but is it possible there is an invincible hand pushing this agenda because it was about the money, now it's about the regulation and taking charge 

Maybe something happened, say a court order which brought this to their attention otherwise I feel is a bitter sweet situation we have on our hands.

[Fivestar4everMVP]

Curacao license might not be the easiest access anymore for many casinos that want to start an online casino, as just recently there was news that they are strengthening their regulations and that includes the following

{sniped}

What do you think, can casinos still find another license provider that has lax implementation like the old Curacao? Because definitely not all of them can pass these requirements, especially those that offer no KYC or anonymous gambling

I think there will always be a way, though the available way becomes a bit harder than the previous but it's still a way.
Curaçao is not the only country that offers a gambling licence to casinos, especially the online casinos, there are definitely other countries too who do this and if getting a licence from Curaçao has or becomes too expensive or the requirements becomes demanding for most casinos to be able to reach, interested casino can simply turn to other countries that are more customer friendly.

In the end, a licence is a licence even though we understand that a licence has limits to the jurisdiction it can be able to cover, but I don't see any thing very special about Curaçao licence in this regard because before now or until now, (maybe before the implement the new rule) Curaçao license remains the cheapest and easiet to get, and maybe the most useless as well but yeah, I don't know much about licences and might not to correct.

[Fiatless]

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.

I had to do simple research on why Curacao is changing its license policies. I wanted to know because these stringent processes would make them lose customers. Some reports claim that the country needs to fight money laundering, increase business transparency, and adhere to certain financial rules for them to qualify for the Dutch government financial aid. So we might see more stringent legislation in the future.

https://lawrange.net/en/curacao-gaming-licenses-changes-key-updates-and-what-you-need-to-know/

[Potato Chips]

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.

It pretty much could follow the same path as centralized crypto exchanges as well. Remember how it was also so much laxer back then but went stricter over time. Fast forward, most exchanges right now have mandatory KYC.

I should also enjoy this while it last lol. Right now, it is pretty easy to try out casinos, but if they go ham on us with mandatory KYC, I'm just gonna sit back lol. Because I ain't handing out my passport like candies lol.

[CryptoHeadlineNews]

What do you think, can casinos still find another license provider that has lax implementation like the old Curacao? Because definitely not all of them can pass these requirements, especially those that offer no KYC or anonymous gambling

Can you point to anywhere that compulsory KYC is mentioned? Maybe I was fast in reading it, but I did not see anywhere that mention compulsory KYC.

It was not mentioned specifically, but understanding the regulatory requirements makes me believe that KYC is a very basic requirement. It is compulsory, but the timing might differ from gambler to gambler, as it probably depends on the amount wagered, the betting pattern and of course where the funds are coming from.

You know this money laundering thing, it is always attached to this.

For the fact that money laundering is been mentioned in the new rules Curacao gambling licensing body just published to the public, it doesn't mean they have not been monitoring it's casino operators and it's respective users about trace to fraud, money laundering and link if they are funding terrorism. So what this means is that inasmuch as a casino can monitor all its users transactions from not been linked to money laundering, fraud and funding terrorism via using cryptocurrencies. They will still be allowed to operate as a NO-KYC casino. But just be rest assured that they will still ban all trades linked to mixers. Since they are a casino licensing body that are still answerable to government.