Online casinos falls on online gambling license not on same regulations for exchanges or custodial wallets.
As mentioned already, online casinos can be accessed by different jurisdictions unless stated like US residents are not allowed to these casinos.
While some countries doesn't have crypto regulations so you can assumed accessing casinos from that country is either legal and probably not illegal, which put crypto casinos in grey area of crypto regulations.
But as far as i know every country now has online gambling regulations so using online casino wherever you are will fall on that regulations not crypto regulations.
Topic: Gambling Companies and Bitcoin - page 2. (Read 392 times)
Not everyone likes or uses so-called bitcoin, but every country has an interest in it. In illegal situations, people use this system to transfer money easily, and states allow it. No one should be cut off as a good angel.
As far as I know most casinos and gambling sites operate in the legally gray area(probably slightly leaning more towards illegal) hence why they're still able to cater to users from all(or most countries). Heck, some of these sites don't even require any personal information and KYC at all; so even if your country banned that specific service, you can simply use a VPN/proxy.
Are the authorities of these nations turning a blind eye on the Bitcoin use?
Online casino's are accessible to people in different locations, and the casino you play with may not be bound or affected by very strict laws of your country. On the other hand, Most governments do not worry too much about their citizens owning bitcoins as digital assets and making use of it for things like trading and say gambling, they just don't want it mixing up with their banking sector, just like the central bank in my country Nigeria recently clarified. So long you have a way to profit and get your money without going through the banks, you are good to go. 
We all know that there are only two nations that lawfully accept Bitcoin as a legal currency, El Salvador and Central African Republic. So how come that these gambling companies are allowed to put to use Bitcoin as one of their accepted currencies when neither Netherlands and Cyprus aren't legalizing Bitcoin as a currency?
Bitcoin doesn't have to be considered a legal tender for people to be able to pay or get paid in bitcoin. It only has to be legal (regardless of what the government calls it) for the centralized regulated companies to accept bitcoin payments.Basically if it is legal tender they would have to accept it but If it is a legal currency they can accept it if they want to.
Google tells me that there is no regulations that prohibits getting paid in bitcoin in Netherlands and I couldn't find anything about Cyprus. Which means bitcoin is legal in these two countries and anybody can use it as payment.
What I know is that these gambling companies that accept Bitcoin as one of their accepted currencies are registered and licensed from Cyprus and Curacao (an island located in South America and a part of the Netherlands). We all know that there are only two nations that lawfully accept Bitcoin as a legal currency, El Salvador and Central African Republic. So how come that these gambling companies are allowed to put to use Bitcoin as one of their accepted currencies when neither Netherlands and Cyprus aren't legalizing Bitcoin as a currency? Are the authorities of these nations turning a blind eye on the Bitcoin use?
Or is it possible that gambling companies are allowed to accept any forms of tangible or non-tangible objects so long as they deem it valuable to their operations? Take for instance, casino chips and tokens are used to play games in the tables and on slot machines. So is this the case of Bitcoin too?
Or is it possible that gambling companies are allowed to accept any forms of tangible or non-tangible objects so long as they deem it valuable to their operations? Take for instance, casino chips and tokens are used to play games in the tables and on slot machines. So is this the case of Bitcoin too?
Actually the fact is that, they don’t use the license for using Bitcoins at site, rather those are gambling licenses issued by those companies.
Now the casinos who take the licenses, completely have the control to whether they want Bitcoins or FIAT to be integrated at the site.
Nevertheless the law in those nations are also not so strict regarding cryptos.
Or is it possible that gambling companies are allowed to accept any forms of tangible or non-tangible objects so long as they deem it valuable to their operations? Take for instance, casino chips and tokens are used to play games in the tables and on slot machines. So is this the case of Bitcoin too?
It's not only gambling companies. Just look at payment processors that accept bitcoin and give to the shop, by its choice, bitcoin or fiat. I think it's the same situation.
How they do it? I don't know. It may be something similar to what the crypto exchanges are allowed to do (they also accept both fiat and crypto for deposits and withdrawals), or it may be something similar to what pawn shops are allowed to do (accept anything they consider valuable).
So while it may look strange, I think that they're OK on this. I think that their strange residency is related to the gambling license, not the handling of the coins.
What I know is that these gambling companies that accept Bitcoin as one of their accepted currencies are registered and licensed from Cyprus and Curacao (an island located in South America and a part of the Netherlands). We all know that there are only two nations that lawfully accept Bitcoin as a legal currency, El Salvador and Central African Republic. So how come that these gambling companies are allowed to put to use Bitcoin as one of their accepted currencies when neither Netherlands and Cyprus aren't legalizing Bitcoin as a currency? Are the authorities of these nations turning a blind eye on the Bitcoin use?
Or is it possible that gambling companies are allowed to accept any forms of tangible or non-tangible objects so long as they deem it valuable to their operations? Take for instance, casino chips and tokens are used to play games in the tables and on slot machines. So is this the case of Bitcoin too?
Or is it possible that gambling companies are allowed to accept any forms of tangible or non-tangible objects so long as they deem it valuable to their operations? Take for instance, casino chips and tokens are used to play games in the tables and on slot machines. So is this the case of Bitcoin too?
There license is for E-gambling and not for the currency besides there’s no strict law regarding forbidding of Bitcoin and altcoin on most of the country except China, Russia and other country that has strict regulations against crypto but the rest has no defined law in regards crypto that’s why this online gambling company can freely operate if they an e-gaming license coming from Curacao.
What I know is that these gambling companies that accept Bitcoin as one of their accepted currencies are registered and licensed from Cyprus and Curacao (an island located in South America and a part of the Netherlands). We all know that there are only two nations that lawfully accept Bitcoin as a legal currency, El Salvador and Central African Republic. So how come that these gambling companies are allowed to put to use Bitcoin as one of their accepted currencies when neither Netherlands and Cyprus aren't legalizing Bitcoin as a currency? Are the authorities of these nations turning a blind eye on the Bitcoin use?
Or is it possible that gambling companies are allowed to accept any forms of tangible or non-tangible objects so long as they deem it valuable to their operations? Take for instance, casino chips and tokens are used to play games in the tables and on slot machines. So is this the case of Bitcoin too?
Or is it possible that gambling companies are allowed to accept any forms of tangible or non-tangible objects so long as they deem it valuable to their operations? Take for instance, casino chips and tokens are used to play games in the tables and on slot machines. So is this the case of Bitcoin too?
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