Insights Archive

August 22, 2023

Get Rid Of One-Size-Fits-All Regulatory Approach, UK Trade Body Urges

A major fintech trade association has told the UK government that the sector ought to have separate rules to those applied to traditional financial institutions, due to differences in knowledge, resources and expertise.

August 22, 2023

Citing Lack Of Progress, RBA Warns Of ’Formal Regulation’ On Least-Cost Routing

The Reserve Bank of Australia (RBA) has threatened to introduce "formal regulatory requirements" on least-cost routing if it does not see progress on its implementation by acquirers.

August 22, 2023

Australia Launches Wagering Self-Exclusion Website BetStop

The Australian government has launched the nationwide self-exclusion service BetStop and imposed a customer pre-verification regime, completing activation of all ten items of the online gambling National Consumer Protection Framework.

August 22, 2023

Brazil's Paquetá Brings Spot-Fixing Scandal To Premier League

Brazil appears to be exporting an escalating betting scandal internationally, with West Ham midfielder Lucas Paquetá now suspected of an intentional yellow card in a Premier League match last season.

August 22, 2023

Uncertainty Surrounds Federal Agency Regulating Indian Gaming

Functioning with a chairman whose term already has expired and a vacancy in one of its two other leadership positions, the National Indian Gaming Commission needs changes that may not occur until after the 2024 presidential election.

August 21, 2023

Digital Euro Regulation Delivers More Scepticism Than Clarity

The EU’s payments community has long accepted the inevitability of a digital euro being issued, but that does not mean people are pleased or engaged.

August 21, 2023

UK Becomes Latest Jurisdiction To Implement Crypto Travel Rule

In line with international guidance on crypto-asset transfers, the UK is soon to become the latest jurisdiction to implement a crypto "travel rule".

August 21, 2023

Italian Bank Ditches Card Fees For Small Payments

Banco BPM, Italy’s third-largest bank by assets, has announced that it will scrap commission fees for low-value card payments, after banks and trade groups signed an agreement to help struggling merchants.

August 21, 2023

Doctors' Lobby Slams US Industry Funding For Sydney Gambling Clinic

Australian media and the nation’s major professional association for doctors have attacked an international deal sourced from global gambling company funds that will expand the University of Sydney’s gambling treatment and research unit.

August 21, 2023

Will North Carolina Go All-In On Gambling Expansion?

Three years after neighboring Virginia approved sports betting, iLottery and casinos in quick succession, North Carolina lawmakers are considering following suit and even upping the ante, with video lottery terminals and internet gaming also in play.

August 21, 2023

New Jersey Imposes Fines For Illegal Bet Offerings

The New Jersey Division of Gaming Enforcement has issued several enforcement orders totaling $102,000 in penalties and a forfeiture order against four licensees for accepting prohibited wagers on in-state college sporting events and allowing a self-excluded patron to gamble.

August 18, 2023

Week In Crypto: Binance Accuses SEC Of ‘Fishing Expedition’

Binance US files motion to protect itself from discovery requests, PayPal puts crypto on hold in the UK, a New York couple plead guilty to laundering billions of dollars of stolen bitcoin, and Bankman-Fried back in jail.

August 18, 2023

US Regulator Mulls Stricter Rules For Data Aggregators

The US Consumer Financial Protection Bureau is working on a proposal that would bring data aggregators under existing consumer reporting law.

August 18, 2023

Daily Dash: Irish Finance Minister Intervenes After Outage

Ireland’s finance minister has ordered the central bank to investigate Bank of Ireland’s outage, while Adyen shares dive after a poor H1 performance.

August 18, 2023

Louisiana Law Requires Casinos To Train Employees For Human Trafficking Prevention

If it is not already, Louisiana is on its way to becoming the nation’s leader in the fight against human trafficking in casinos after passing a law requiring employees to be trained to detect and prevent trafficking in their facilities.

August 18, 2023

Shuttered Philippine Junket Denies Owner Arrested In Singapore

A junket network that announced the sudden closure of its Philippine casino VIP rooms on Tuesday has denied “rumours” that its owner was arrested in a major Singapore police operation on the same day.

August 18, 2023

BetMGM Launches In UK Using LeoVegas

MGM Resorts International has launched BetMGM in the UK via its subsidiary LeoVegas, but not with Entain, which is joint owner of the same sports-betting and online casino brand in North America.

August 18, 2023

Texas Lottery Takes No Action On Legislative Order To Ban Lottery Couriers

Texas Lottery officials elected to take no action on a legislative direction to prohibit lottery couriers that the state’s governor called unconstitutional.

August 18, 2023

News In Brief: August 14-August 18, 2023

Brazil's match-fixing investigation is extended, signalling another potential delay to sports-betting regulation, while Kentucky announces a timeline for the opening of its sports-betting market.

August 17, 2023

Splitit Proposes Voluntary Delisting And Relocation To Cayman Islands

A troubled buy now, pay later (BNPL) firm has proposed to shareholders that it delists from the Australian Stock Exchange (ASX) and relocates to the Cayman Islands under private ownership, in a bid to secure much-needed capital.

August 17, 2023

UK Reform on AML/CTF Supervision and the Risk-Based Approach

On June 30, 2023, HM Treasury launched a consultation on reform of the anti-money laundering and counter-terrorism financing (AML/CTF) supervisory system in the country. This regulatory analysis will focus on the current AML/CTF supervision framework, proposed alternatives presented in the consultation and some of the potential implications, focusing in particular on the risk-based approach.