Many governments were all against bitcoin from the start, but we can all see that the story is gradually changing. They are right now either seeing bitcoin in a good way or in a bad way, like some see bitcoin as a means for criminals to launder money, while others are already seeing it as an asset, whatever that means. We can't deny the fact that for bitcoin to fall under any of these categories, it has already been seen as a currency (money).
Which makes it now a legal currency in most countries, which means it could be used to go into a legal agreement that will be bind by law, so unless the casino is not ready to operate under any government and serve the citizens of a particular country, then they will need some licence to operate.
For the main time, if you are starting small as a casino, you might not all need those licences and approvals as there might be little eyes on you, but after that, if you want your business to go far, you need to operate based on the laws that govern owning a casino.
Topic: Why they need a license if bitcon is not money? - page 23. (Read 4557 times)
Many casinos started with it as the flag, but there are more that are already on the Caribbean island (or any other tax haven) than those that aren't, in addition to what you mentioned, SWC.
However, casinos that follow KYC rules can still use crypto bets and make deposits. They can also use different Alts and make bet sizes up to 8 decimal places.
On the specific point of why some yes and others no, it is government legislation, AML and the laws that govern internationally on money laundering, anyone who does not adhere to those rules can simply incur some of those crimes at some point.
However, casinos that follow KYC rules can still use crypto bets and make deposits. They can also use different Alts and make bet sizes up to 8 decimal places.
On the specific point of why some yes and others no, it is government legislation, AML and the laws that govern internationally on money laundering, anyone who does not adhere to those rules can simply incur some of those crimes at some point.
It's fun guys, govs hardly avoid accepting Bitcoin is money, but when it comes to gambling then users are risking money, so, casinos need a license.
Let's be honest, If you can deposit, wager, and withdraw. I don't see where the license is in the process...
Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?
Crypto gambling needs freedom, and i insist in this point. If you can Deposit, Wager and Widrawal, then you don't need anything else. And a big shout out to those casinos who still working until now without a license, freebitco.in, Just-Dice.com, bustabit.com... They are big examples of how crypto gambling should be.
Let's be honest, If you can deposit, wager, and withdraw. I don't see where the license is in the process...
Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?
Crypto gambling needs freedom, and i insist in this point. If you can Deposit, Wager and Widrawal, then you don't need anything else. And a big shout out to those casinos who still working until now without a license, freebitco.in, Just-Dice.com, bustabit.com... They are big examples of how crypto gambling should be.
Jump to: