Are regulators tightening crypto KYC? We, players, will feel it too

[L E G E N D A R Y]

In the case of platforms, this rule must be followed because casinos are liable to the government. Especially if a large amount of money is won, casinos have to keep proper information about that user. Moreover, they also have to know whether he is a real user or not. In this case, there is nothing wrong with asking a new KYC information from a platform user. However, if it happens with that small amount of money, then I think they have made false promises to the gamblers about KYC information in the beginning. Although there is no way to say that this will happen in the case of all casinos. While these demands are reasonable for regulated casinos, the same rules do not apply to unlicensed platforms.

Transparency is very important for every casino. KYC isn’t the issue but being very transparent about it from the beginning is the bigger issue, because users should know the conditions on registration before even making their first deposits, and not to only discover them when it’s time for them to withdraw. Even unlicensed casinos can also issue restrictions when huge amount of money is involved, so people shouldn’t just rely on their no KYC claims.

[Texac]

Even the casino agreed with the data privacy one their data is leaks all of your information is now available in the internet and can't be deleted.

And until now, there has been no action from regulators regarding cases of customer data leaks, whether from hacking or intentional data breaches. That is what is regrettable at the moment. 
Casinos comply with regulators to request KYC from customers, but there is no real guarantee regarding the security of the data that has been provided. 

Gamblers aren't just providing their name and email address, but also copies of their passport, photo, bank statement and sometime even document proving their source of income. But I wouldn't agree that regulator do absolutely nothing when data breaches happen.
So, in my opinion, it's much more important to pay attention to a casino's reputation, how it store personal data, and who exactly receive document submitted for verification.

[Elainebue]

no kyc at signup but transaction monitoring in the background is an interesting middle ground

[sompitonov]

Gamblers aren't just providing their name and email address, but also copies of their passport, photo, bank statement and sometime even document proving their source of income. But I wouldn't agree that regulator do absolutely nothing when data breaches happen.
So, in my opinion, it's much more important to pay attention to a casino's reputation, how it store personal data, and who exactly receive document submitted for verification.

This is undoubtedly the most critical point to focus on, as the current situation rife with hacks, thefts, and data leaks is deeply concerning to me. I don’t think any user would be happy about this platforms and casinos that are constantly demanding more from their users should instead be investing their profits into strengthening their cybersecurity. We live in dangerous times, with hackers who show no signs of stopping they are actively hunting for customer data and funds.

[Fuso.hp]

If I am personally asked what I would prefer when choosing a gambling site, then first I would say security. Now if we give maximum attention to security, then we must definitely do KYC verification there and if we do not consider KYC verification safe, then how will we create an account on a reliable casino site and how will we continue to gamble there. If I give my personal important information in the wrong place, it is a matter of concern, but if I complete the verification with my personal information on some trusted casino site, then it is not a matter of concern for me. There are many members of the popular casinos, but they do KYC with their personal information and then gamble, since this large number of people trust me, I think we can also trust such casinos.

[348Judah]

no kyc at signup but transaction monitoring in the background is an interesting middle ground

This is what some casino do when they try to convince you that they don't require for kyc and they are running other background checks behind unknowing it to users, there are a lot of challenges we are going to face with the use of centralized platforms for gambling and that is why some we even prefer casinos that will not require KYC.

[Fortify]

And until now, there has been no action from regulators regarding cases of customer data leaks, whether from hacking or intentional data breaches. That is what is regrettable at the moment. 
Casinos comply with regulators to request KYC from customers, but there is no real guarantee regarding the security of the data that has been provided. 

Gamblers aren't just providing their name and email address, but also copies of their passport, photo, bank statement and sometime even document proving their source of income. But I wouldn't agree that regulator do absolutely nothing when data breaches happen.
So, in my opinion, it's much more important to pay attention to a casino's reputation, how it store personal data, and who exactly receive document submitted for verification.

We only hear about the hacks and leaks that the casinos have to share or that they know about. Unless they are using a dedicated identity verification service completely separate and specialists in the field, then you can probably accept that your documents will be compromised at some point. I've seen cases where customer support want these documents submitted via insecure email which is a major security risk and shows how little they really care about protecting customers, I avoid those sites. The sad part is that sometimes they only trigger these checks after you've deposited, possibly won some money and want to withdraw - so they effectively hold your funds hostage until you conform to their checks. It's worth doing your research up front and keeping deposits small until you establish the method they use to verify customers, otherwise you might regret it later. Regulators in most of the island jurisdictions are completely toothless and will ignore complaints if they keep paying for a license.

[Supreme Donvic]

In the case of platforms, this rule must be followed because casinos are liable to the government. Especially if a large amount of money is won, casinos have to keep proper information about that user. Moreover, they also have to know whether he is a real user or not. In this case, there is nothing wrong with asking a new KYC information from a platform user. However, if it happens with that small amount of money, then I think they have made false promises to the gamblers about KYC information in the beginning. Although there is no way to say that this will happen in the case of all casinos. While these demands are reasonable for regulated casinos, the same rules do not apply to unlicensed platforms.

Transparency is very important for every casino. KYC isn’t the issue but being very transparent about it from the beginning is the bigger issue, because users should know the conditions on registration before even making their first deposits, and not to only discover them when it’s time for them to withdraw. Even unlicensed casinos can also issue restrictions when huge amount of money is involved, so people shouldn’t just rely on their no KYC claims.

This was the same thing I was talking about in a particular thread, kyc is not actually the problem the problem is a casino knowing fully well that they request for kyc but coming out to say they don't request for kyc and in their terms and condition it is not stated that they ask for kyc and when you register and deposit they won't ask you for kyc but immediately you want to withdraw they start asking you for kyc.
Someone was saying that the reason a casino decide to ask for kyc even if the casino is a no kyc casino is because of discovery multiple accounts that is against There rules and I asked him so can't they include that they will request for kyc in certain condition in their team and condition.

All this casinos actually know what they are doing, I will keep saying it avoid any casino that says they are no kyc casino but later ask for kyc when you want to withdraw, this is why it's important to deposit small amount when you are trying out a new casino so it will be easy to leave the casino with the money you deposited if they bring fun attitude.

[Fiasem20]

If I am personally asked what I would prefer when choosing a gambling site, then first I would say security. Now if we give maximum attention to security, then we must definitely do KYC verification there and if we do not consider KYC verification safe, then how will we create an account on a reliable casino site and how will we continue to gamble there. If I give my personal important information in the wrong place, it is a matter of concern, but if I complete the verification with my personal information on some trusted casino site, then it is not a matter of concern for me. There are many members of the popular casinos, but they do KYC with their personal information and then gamble, since this large number of people trust me, I think we can also trust such casinos.

Exactly,security of a casino should be the main concern of those willing to release their personal information to a casino.This year we saw how most prominent casinos got hacked,it’s not like they weren’t reliable enough to be trusted but most things are bond to happen regardless,in that scenario if a hack could penetrate into a casino their major reason could be to steal money and to also steal the personal information of customers.Funnily enough,how most people would be wondering what would they use customers personal information for,we must have heard of “impersonation” when they succeed in stealing customers personal information they might use their information for the purpose of impersonating and engaging in fraudulent activities.

[HelliumZ]

If this happens, it will become like you will no longer have any privacy. The fact that you are participating in a secret gambling and keeping your wallet completely private will no longer exist in the future.
I think the possibility of this happening is very low, especially since the casino authorities strictly follow No KYC to protect the privacy of the users, while the regulatory agencies cannot tighten KYC if they want and there will be no possibility of the users' privacy being relaxed in the future. Casino authorities always want users to pay attention to the casino, but if for some reason the regulatory body makes KYC stricter to comply with the rules, then user interest will decrease significantly, which will be detrimental to the casino.

[Smartprofit]

If I am personally asked what I would prefer when choosing a gambling site, then first I would say security. Now if we give maximum attention to security, then we must definitely do KYC verification there and if we do not consider KYC verification safe, then how will we create an account on a reliable casino site and how will we continue to gamble there. If I give my personal important information in the wrong place, it is a matter of concern, but if I complete the verification with my personal information on some trusted casino site, then it is not a matter of concern for me. There are many members of the popular casinos, but they do KYC with their personal information and then gamble, since this large number of people trust me, I think we can also trust such casinos.

It seems to me that KYC procedures are being implemented not for player safety, but for control. It reminds me of the famous joke: "The sheep spent their whole lives afraid of being eaten by a wolf, but the shepherd ate them."💁

Casinos are generally not interested in KYC or AML (anti-money laundering). Online casinos are commercial organizations. Their primary goal is profit. Casinos are interested in having customers play as much and as often as possible. Casinos have little interest in the currencies in which people make deposits.

KYC and AML procedures are of interest to governments because they allow them to control the financial flows of their citizens. However, some unscrupulous casinos also use these procedures to confiscate players' deposits. In this situation, the losers are the players... They gain neither security nor freedom. 🤷

[Odusko]

In the case of platforms, this rule must be followed because casinos are liable to the government. Especially if a large amount of money is won, casinos have to keep proper information about that user. Moreover, they also have to know whether he is a real user or not. In this case, there is nothing wrong with asking a new KYC information from a platform user. However, if it happens with that small amount of money, then I think they have made false promises to the gamblers about KYC information in the beginning. Although there is no way to say that this will happen in the case of all casinos. While these demands are reasonable for regulated casinos, the same rules do not apply to unlicensed platforms.

Transparency is very important for every casino. KYC isn’t the issue but being very transparent about it from the beginning is the bigger issue, because users should know the conditions on registration before even making their first deposits, and not to only discover them when it’s time for them to withdraw. Even unlicensed casinos can also issue restrictions when huge amount of money is involved, so people shouldn’t just rely on their no KYC claims.

The issue with transparency and accountability is very important because for some reason, gamblers are not against kyc verifications, what gamblers often complained and worry about is their data protections, because once the data are leaked it could enhance phishing and hacker's to gain various access to the players personal details and will use them.

[L E G E N D A R Y]

This was the same thing I was talking about in a particular thread, kyc is not actually the problem the problem is a casino knowing fully well that they request for kyc but coming out to say they don't request for kyc and in their terms and condition it is not stated that they ask for kyc and when you register and deposit they won't ask you for kyc but immediately you want to withdraw they start asking you for kyc.
Someone was saying that the reason a casino decide to ask for kyc even if the casino is a no kyc casino is because of discovery multiple accounts that is against There rules and I asked him so can't they include that they will request for kyc in certain condition in their team and condition.

All this casinos actually know what they are doing, I will keep saying it avoid any casino that says they are no kyc casino but later ask for kyc when you want to withdraw, this is why it's important to deposit small amount when you are trying out a new casino so it will be easy to leave the casino with the money you deposited if they bring fun attitude.

For me, that’s a complete red flag, and if eventually I get registered into a casino that claims to be non KYC and then when it’s time for me to withdraw, they request for KYC, if it’s a significant amount that I can’t let go, because these situations mostly occurs during when a customer is trying to withdraw a huge amount, I’d simply pass the KYC, and immediately I get my money out of there, that’s the end of that casino for me, I’ll either request for immediate account closure or I simply abandon the account and look for a better casino, because that’s obviously deception.

If you would request for KYC at some point, there’s absolutely nothing wrong with stating it in your ToS and people who still wanna use their services would still do so, and not to trick people into getting into something they didn’t sign up for.