Some time ago I emailed the Gaming Commission (UK), asked simple question: Whether gambling websites that only accept crypto-currencies, such as bitcoin, are subject to the gambling regulations/licences.
Below is the reply I got. No surprise here.
Thank you for your email regarding crypto-currencies such a s Bitcoin.
The Gambling Act 2005 (the Act) talks about ‘money or money’s worth’ so there is no specific regulation regarding bitcoin or any other similar peer-to-peer payment system or digital currency contained in the Act.
However, the point that I feel I should bring to your attention is that of payments. We normally ask who will be providing the merchant services for our applicants and then check that they are registered with the FCA (for UK based businesses) If you are not using a merchant to process the payments then you would need to demonstrate to the Commission that whatever method you use would enable you to conform to the KYC (Know Your Customer) AML (Anti Money Laundering) and POCA (Proceeds of Crime Act) requirements contained in the Licence Conditions and Codes of Practice (LCCP).
Those applying for remote licences should also be aware of the Remote gambling and software technical standards ( RTS ) and again, should be able to demonstrate how their website will conform. In assessing applications, conformity to the provisions contained in these two documents is an important consideration.
We hope this clarifies your query.
