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Bitcoin Casinos in United Kingdom: Legalities & Regulations

Dec 26, 2017 Admin Regulation
United Kingdom

Bitcoin is getting stronger by day. What was once a non-viable online currency has scaled the heights and is set to revolutionize online transactions including gambling. This electronic currency only exists in virtual world and it is not controlled by any financial authority or government. Given its anonymous nature, it has led to an explosion of underworld online activities mainly transacted through crypto-currencies. 

According to www.gamblingkingz.co.uk, many Britons indulge in bitcoin gambling because it attracts minimal transaction fee and can be done within the shortest time possible. UK bitcoin casinos are also known to offer special games known as “Provably fair games” to bitcoin players hence the fuss. And of course, bitcoin casinos guarantee complete anonymity and are secure.

Bitcoin casino is one of the most exiting industries in the UK, many gambling sites like Arcades, Sportsbook, Lotteries among others are actively in operation. Nevertheless, there are a number of uncerta...


Bitcoin Casinos in Japan: Legalities & Regulations

Dec 26, 2017 Admin Gambling
Japan

Given the anonymous nature of bitcoin transactions, online gamblers are no strangers to it operations. Bitcoin gambling is increasingly growing at a full stream due to proliferation of both licensed and unlicensed online markets. 

Nothing goes without mentioning that bitcoin has been the preferred currency for underworld online transactions, according to www.casino.org, leading offshore betting sites like Ignition, Bovada, and Slots LV readily accepts bitcoin due to its incognito status and relatively low transaction fee. 

Save for China and Australia, Japan has become one of the leading destinations in online betting if the number of bitcoin casinos is anything to go by. As good as it may sound; Japan will need to quickly figure out ways to track bitcoin transactions at least to be able to ascertain whether lawfully being used. 

Legalities & Regulations

Gambling in Japan is prohibited by the Criminal Code, Chapter 23 with several exceptions on betting on horse racing, public s...


Bitcoin Casinos in Canada: Legalities & Regulations

Dec 26, 2017 Admin Regulation
Canada

Bitcoin has undoubtedly become the world first decentralized digital currency; it uses cryptographic techniques to ensure secure online transactions. Since its release in 2010, it has grown to be a leading player in online transactions and is rapidly gaining legitimacy across the world. USA, Canada, Australia, Iceland among others are actively involved in bitcoin trade. 

Among the more than 500 crypto-currencies available today, bitcoin still have the “first mover” advantage. Tax authorities and enforcement agencies worldwide are grappling with this phenomenon since its use has awakened the proliferation of online underworld activities like bitcoin casinos. This has been worsened by the fact that bitcoin is never issued, endorsed or regulated by any known commercial or central bank.

Just like their southern neighbors the USA, Canada has exhibited a rather bitcoin friendly stance since its release, laws have been enacted to ensure that crypto-currency are not used for money laundering p...


Bitcoin Casions in Australia: Legalities & Regulations

Dec 26, 2017 Admin Regulation
Australia

With Bitcoin value constantly on the rise, it has become evident that regulatory frameworks surrounding its operations and other crypto-currencies should be put in place. Not to be left behind are online casinos which transact only in bitcoins. 

Until recently, only China and Japan had shown unwavering desire to regulate bitcoin exchanges including casinos, now Australia has also joined the pack. According to www.casinopedia.org, in the year 2016/2017, Australian pokies suffered their worst trend ever since 2002 prompting fears that the gambling industry may be declining fast. This was majorly attributed to emergence of online casino games and illegal gambling website.

The Economist named Australia as the biggest online gambling heaven with a probable annual loss of 900$ per adult player. This report also predicts a 15% year-over-year growth in this industry. 

Legalities & Regulations

Limited gambling opportunities pushed players into the black online markets and this prompted the A...


Legality And Regulation Of Bitcoin And Other Cryptocurrencies In Venezuela

Dec 26, 2017 Admin Regulation
Venezuela

Venezuela is a nation that is relying completely on cryptocurrencies like Bitcoin after the nation was struck by hyperinflation, which had adversely affected the nation’s economy. And the reason why Venezuelan people are using Bitcoin and Ethereum as an exchange is these cryptocurrencies are immune to inflation. Many Venezuelans have taken to bitcoin mining in a desperate attempt to earn some money. Bitcoin mining involves executing computations that are complex in nature and recording them in the blockchain, a distributed digital ledger. For the bitcoin mining work that they do, they are compensated using bitcoins.

Virtual currencies have become a necessity for transactions that are related to buying and selling goods and services. Initially, the nation’s leading bitcoin exchange was SurBitcoin but after the economy of the nation went down and Banesco bank shut down, the operations for the bitcoin exchange to be temporarily discontinued.

How are Cryptocurrencies Regulated In Venezuela

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