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Topic: Betting law ignores technology and encourages clandestinity - page 4. (Read 548 times)

sr. member
Activity: 448
Merit: 560
Crypto Casino and Sportsbook
Most countries don't bother to regulate crypto casinos at all. They just ban them outright by blocking then. But it is very easy to circumvent these blocks and eventually most people that were going to avoid the blocks do it anyway. And it's impossible to give consequences to hundreds of thousands of people for something as trivial. At least it would be very tyrannical to try.

But I am sure Brazil has better issues to focus resources on. So I am not surprised. Most countries treat gambling the same. And interestingly the crowd of people that don't even know how to change DNS also are the majority so this regulation works.
That's just the internet for you. People will always find a way to bypass certain government restrictions and if it's just a casino ban they can probably tweak their IP via some VPN.
Without trying to be rude , I still don't see why some countries place ban on crypto related stuff like I don't really feel like it's necessary. Of course they may have their reasons but crypto currencies are undoubtedly the future of cash system and placing these bans only slow down the whole process.
With respect to the illegal issues, any cash system can be used for fraud weather directly or indirectly. Before crypto became popular, people still defrauded via fiat and other means.
hero member
Activity: 784
Merit: 672
Top Crypto Casino
As far as that law applies to casinos that operate in Brazil then online players should not worry about such laws. If I'm not wrong then most of the online casinos are operating from placed that's not under the territory of  Brazil and by keeping that in mine the online players can play at their favorite betting sites without any issues.
hero member
Activity: 1120
Merit: 540
Duelbits - Play for Free | Win for Real
Yes, we understand that, and maybe that's what the government of Brazil doesn't want, but we all know that crypto based casinos are asking KYC (Know Your Customer), personal information like drivers license and passport so that they will know who they dealing with and prevent such cases as money laundering.

So it doesn't make sense for the Brazilian government to make a total ban on cryptocurrencies.

This is the new technology and we all know that if you look at the other way, there could be advantage of it like blockchain that they can implement as we all know that everything is recorded and immutable. So why not the government take advantage of it instead of going backwards?
'cause the government does not want competition, it wants to sell its own solutions (or imposes on force through threats of sanctions) so that it has more control over the financial lives of the parties involved in any negotiation.

The government here barely knows how blockchain technology works and is not interested in knowing unless it gives them an advantage in making it easier to track people's records and documentation.
legendary
Activity: 3080
Merit: 1353
You have to also understand that lots of fraud go through casino and its not a wrong idea for them to regulate it a little, I believe they must be a reason behind this new rule that they brought out l, it can't totally be to stop crypto casinos from excelling in the country, who knows it might be task related.

Yes, we understand that, and maybe that's what the government of Brazil doesn't want, but we all know that crypto based casinos are asking KYC (Know Your Customer), personal information like drivers license and passport so that they will know who they dealing with and prevent such cases as money laundering.

So it doesn't make sense for the Brazilian government to make a total ban on cryptocurrencies.

This is the new technology and we all know that if you look at the other way, there could be advantage of it like blockchain that they can implement as we all know that everything is recorded and immutable. So why not the government take advantage of it instead of going backwards?
hero member
Activity: 1120
Merit: 540
Duelbits - Play for Free | Win for Real
It seems that the more you poke around in shit, the more it attract flies, look how absurd, seriously the brazilian government has been going overboard for a long time.

Researching further, I find this other news giving this deadline for casino companies:

You have to also understand that lots of fraud go through casino and its not a wrong idea for them to regulate it a little, I believe they must be a reason behind this new rule that they brought out l, it can't totally be to stop crypto casinos from excelling in the country, who knows it might be task related.
The government's only concern is to parasitize society, it uses these arguments to justify its theft. Believe me, everything the brazilian government sets out to do, it doesn't do or if it does, it's done poorly.

Now laws to complicate the lives of citizens or even to tax to obtain increasingly exponential gains, in this they are extremely efficient.

Instead of adapting to reality, officials are trying to draw water with a sieve. Nothing new. It is strange that local casinos were unable to lobby for a softer version of the law, since it is obvious that a significant part of the audience will go to foreign/crypto casinos and local businesses will be left without profit, which in turn will be the reason that they will not be able to provide clients with more favorable conditions. And this will lead to additional customer churn and so on. Officials are cancer, they make everything worse.
You have a point!

legendary
Activity: 2478
Merit: 1951
Leading Crypto Sports Betting & Casino Platform
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.

Instead of adapting to reality, officials are trying to draw water with a sieve. Nothing new. It is strange that local casinos were unable to lobby for a softer version of the law, since it is obvious that a significant part of the audience will go to foreign/crypto casinos and local businesses will be left without profit, which in turn will be the reason that they will not be able to provide clients with more favorable conditions. And this will lead to additional customer churn and so on. Officials are cancer, they make everything worse.
member
Activity: 224
Merit: 68
Bitvest.io★ Play Plinko or Invest!
You have to also understand that lots of fraud go through casino and its not a wrong idea for them to regulate it a little, I believe they must be a reason behind this new rule that they brought out l, it can't totally be to stop crypto casinos from excelling in the country, who knows it might be task related.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
Most countries don't bother to regulate crypto casinos at all. They just ban them outright by blocking then. But it is very easy to circumvent these blocks and eventually most people that were going to avoid the blocks do it anyway. And it's impossible to give consequences to hundreds of thousands of people for something as trivial. At least it would be very tyrannical to try.

But I am sure Brazil has better issues to focus resources on. So I am not surprised. Most countries treat gambling the same. And interestingly the crowd of people that don't even know how to change DNS also are the majority so this regulation works.
hero member
Activity: 1120
Merit: 540
Duelbits - Play for Free | Win for Real
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.
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