Insights Archive

March 15, 2022

Chinese Caste System Revamp Looks To Unleash New Payments Opportunities

Successful implementation of reforms to China’s Hukou household registration system could give payment firms access to millions of new customers. However, vested interests of the existing system could hold back progress.

March 15, 2022

Allwyn Named UK Lottery Licensee Over Incumbent Camelot

Allwyn Entertainment has been named preferred applicant for the fourth UK gambling licence, replacing Camelot, which has run the National Lottery since 1994.

March 15, 2022

New York Budgets Include New Sports-Betting Licenses

Both chambers of the New York legislature have expressed support for expanding the number of mobile sports-betting operators in the state in their respective one-house budget proposals.

March 15, 2022

Will Inflation Threaten U.S. Gaming's Recovery In 2022?

The U.S. gaming industry’s recovery from the depths of the pandemic has been well documented as commercial casino revenue reached record levels last year, but rising inflation could dampen that recovery, especially in key markets such as Nevada and New Jersey.

March 15, 2022

Spanish Minister Backs Cities Restricting Gambling Venues

Alberto Garzón, Spain’s minister of consumer affairs, wants local municipalities to have the power and tools to introduce restrictions on gambling venues in their areas.

March 14, 2022

Merchants Seek Probe Into Visa, Mastercard Anti-Competitive Dominance

The Merchants Payments Coalition has called on U.S. Congress to investigate Visa and Mastercard’s alleged anti-competitive dominance ahead of the card giants’ planned swipe fee increase in April.

March 14, 2022

Crypto ATM? It’s Shutdown, Says FCA

The Financial Conduct Authority (FCA) has upped the ante in its pursuance of crypto ventures in the UK, telling operators of crypto ATMs in the UK to shut their machines down or face enforcement action.

March 14, 2022

UK Regulators Give Firms Crypto Sanction Warning

The UK’s Financial Conduct Authority, Office for Financial Sanctions Implementation and the Bank of England have made a call for crypto firms to adhere to the financial sanctions against Russia, following speculation that crypto-assets could be used as a way around compliance rules.

March 14, 2022

European Regulators Face Up To EU’s De-Risking Problem

The EU stalwart problem of de-risking keeps on raging as new refugees stream in from bordering Ukraine and national regulators press the need for better collaboration with the private sector.

March 14, 2022

FinCEN on High Alert Against Russian Sanction Evasion Attempts

The Financial Crimes Enforcement Network (FinCEN) has issued a warning to all financial institutions asking them to be on the lookout for attempts to evade sanctions.<br />

March 14, 2022

Is Marriage Between U.S. Leagues And Sports Betting Headed For Divorce?

A Las Vegas gambling executive is sounding the alarm about the potential nightmare facing his industry and the nation’s professional sports leagues as they pursue their partnership in a quest for sports-betting gold.

March 14, 2022

Senior UK Doctors Demand Gambling Levy

The UK National Health Service’s most senior gambling addiction experts are calling for operators to pay a new multi-million-pound statutory levy to help prevent and treat problem gambling.

March 14, 2022

Philippine Taxman Targets Surging Online Cockfighting Revenue

Aggressive growth of e-sabong (online cockfighting) revenue in pandemic-stricken Philippines has drawn a lengthy demand from the Bureau of Internal Revenue for operators to pay their dues.

March 11, 2022

India Brings Instant Payments To Feature Phones

The Reserve Bank of India has launched UPI123Pay, a new initiative to help 400m legacy mobile phone users connect to its real-time payment system.

March 11, 2022

Japan’s Crypto Association To Introduce Travel Rule

Japan’s crypto-asset exchanges are set to soon join the likes of Germany, Singapore and France in complying with the travel rule standards.

March 11, 2022

FATF Changes Beneficial Ownership Rules

The Financial Action Task Force (FATF) has adopted timely amendments to Recommendation 24, considering both the Ukraine-Russia crisis and the Credit Suisse money laundering scandal, and its interpretive note dealing with beneficial ownership.

March 11, 2022

Week In Brief - March 11, 2022

A short roundup of some of the week's payments news you may have missed. This week we look at the latest developments in a UK class action lawsuit against Mastercard, UK attempts to deal with scam online advertising, new global fraud research and a $124m crypto fraud in the United States. We also look at concerns from the FCA over a new Binance investment.

March 11, 2022

Norway Regulator Orders Betsson To Stop Pitching Norwegians

Betsson will face “coercive fines” if it does not stop offering online gambling to Norwegian residents by March 25, the Norwegian Gambling Authority has said.

March 11, 2022

Washington Signs Off On Final Sports-Betting Rule

Sports betting became legal in the state of Washington as the coronavirus began closing tribal casinos in March 2020, but it was not until Thursday that the state gambling commission approved the last of the regulations.

March 11, 2022

Gambling Ads On Copyright Infringing Websites Falling, Says EU

A study by an EU watchdog appears to show a 55 percent reduction in the number of “major brand” gambling ads appearing on websites known to be infringing on intellectual property.

March 11, 2022

Biden Administration Opposes Wire Act Change To Expand Online Gaming Protection

The U.S. Department of Justice is asking a federal court in Rhode Island to dismiss a lawsuit by International Game Technology seeking to expand protection of the online gaming and lottery industry from prosecution under the U.S. Wire Act of 1961.