Insights Archive

April 28, 2022

NFT Fraud On The Rise In U.S. As Tokens Not Regulated For Gambling

Although the U.S. gaming industry has quickly embraced online gaming and cashless wagering, new frontiers are emerging in non-fungible tokens (NFTs) and cryptocurrency that come with new business opportunities but also new opportunities for fraud.

April 27, 2022

Binance Hires Former FCA, FINRA Regulators In Latest Compliance Personnel Shake-Up

Binance, the world’s largest cryptocurrency exchange by volume, has hired two former regulators from the UK and the US as part of a new compliance charm offensive.

April 27, 2022

Baltic Leaders Want Ukraine To Join EU As Lithuania Calls For Tougher Russian Sanctions

As Prime Ministers of Estonia, Latvia and Lithuania issue a statement condemning Russia’s “unprovoked” aggression in Ukraine and calling for Ukraine’s entry to the European Union, Lithuania’s finance minister says further sanctions are needed.

April 27, 2022

News In Brief: April 25-April 29, 2022

The Bank for International Settlements and Bank Indonesia launch TechSprint to solve the challenges of wholesale and retail central bank digital currencies.

April 27, 2022

Chopra Is Going After Fintechs Now

The US Consumer Financial Protection Bureau has revived a dormant authority to examine nonbank companies that pose risks to consumers.

April 27, 2022

Crypto Boost? Industry Players Mull What Elon Musk’s Twitter Acquisition Means

Twitter has announced that it has accepted a bid from Elon Musk to acquire the social media platform, in a sign that it could become more engaged with crypto-assets.

April 27, 2022

More Clarity Needed On Crypto Access To Fed Accounts

Large industry players are pushing for more clarity on how reserve banks will evaluate crypto firms’ requests to the US payment system as a Federal Reserve consultation ends.

April 27, 2022

UK India Business Council Calls For Central Gaming Regulator

The UK India Business Council has called on India’s central government to regulate gaming, including sports betting, and allow regional governments to cede day-to-day oversight to a national regulator.

April 27, 2022

Comparing European Problem Gambling Rates Difficult, Says Study

“Highly diverse” methods of recording problem gambling in Europe make it difficult for any valuable cross-country comparisons to be made, according to a study written for the European Gaming and Betting Association.

April 26, 2022

Swedish Watchdog Investigates Klarna, Loomis Over Money Laundering Concerns

The payment service providers (PSPs) are being investigated by Sweden’s Finansinspektionen over how they operate their money laundering systems, following investigations earlier this year into other PSPs.

April 26, 2022

Several Major Economies Launch New Cross-Border Privacy Agreement

Jurisdictions including the US, Japan and Singapore have established a cross-border forum to promote collaboration in data privacy.

April 26, 2022

Nothing Stopping Crypto Payments From Going Mainstream, Says Morgan Stanley

A new report from US bank Morgan Stanley has spoken of a world in which bitcoin payments are so convenient that we will use them to pay for coffee.

April 26, 2022

Massachusetts Senate Seeks 'Whistle-To-Whistle' Ban On Sports-Betting Ads

A closely watched sports-betting bill in Massachusetts has been amended and approved by a key Senate committee, with new provisions added to prohibit any advertising around televised sporting events.

April 26, 2022

Trio Of U.S. Court Decisions Could Change Face Of Indian Gaming

Upcoming rulings in three Indian gaming cases could have a historic impact on the future of not only tribal but commercial gambling operations across the United States.

April 26, 2022

Kenya, Ghana, Uganda Attempting To Increase Gambling Tax Take

As governments across Africa seek to recover from the financial impact of COVID-19 restrictions, gambling finds itself in the crosshairs of several budget and financial proposals.

April 26, 2022

Alleged Online Poker Operators In Australia Face Huge Fines

Australia’s national online gambling regulator has launched a civil lawsuit against two men and a company in Queensland state for providing online poker services in Australia, with potential fines running into the millions of dollars.

April 26, 2022

Smaller Tribal Operators Must Play To Strengths To Maximize Sports-Betting Opportunity

While sports betting in the U.S. to date has been dominated by major players such as FanDuel, DraftKings and BetMGM, dozens of operators including domestic and internationally-based commercial operators and local tribal casinos are looking for ways to stand out from the crowd.

April 25, 2022

Bahamas Sets Sights On Becoming Crypto Hub

The government of the Bahamas, home of the Sand Dollar, has published a white paper detailing its digital asset strategy up to 2026, including information on how citizens can pay tax with digital assets.

April 25, 2022

Challenger Banks Failing To Tackle Financial Crime, FCA Says

A review carried out by the UK’s Financial Conduct Authority (FCA) has called out challenger banks for not properly assessing financial crime risk, as well as failing to carry out adequate due diligence on customers.

April 25, 2022

US Crypto Bank Settles AML Case

Anchorage, the first federally chartered crypto bank, has settled a case that alleges the company does not have an adequate anti-money laundering (AML) programme in place.

April 25, 2022

CFPB Sues MoneyGram Over Remittance Rule Violations

Just a week after instigating a lawsuit against TransUnion, the US consumer watchdog is now going after MoneyGram, another large firm it sees as a repeat offender.