Insights Archive

October 9, 2024

Wynn Reveals UAE Tax Details, Revenue Projections

US-based casino operator Wynn Resorts has released new financial metrics and regulatory details for its United Arab Emirates (UAE) project, including a 15-year renewable licence and a blended tax rate comparable to Singapore.

October 9, 2024

California Tribal Leaders Restart Sports-Betting Talks

California and Minnesota tribal gaming leaders spoke optimistically Tuesday about the future of legalized sports betting in their respective states.

October 8, 2024

Brazilian President Threatens To Pull Plug On Online Gambling

Brazil President Luiz Inácio Lula da Silva has declared that he will end gambling “once and for all” if a forthcoming regulation of online betting platforms does not “produce results”.

October 8, 2024

Kuwait Prepares To Lock Out Bank Customers Who Do Not Use Fingerprint ID

A new directive from Kuwait’s Ministry of Interior requires banks to freeze the accounts of customers if they do not register their fingerprint ID with the government.

October 8, 2024

Why Liechtenstein Is Primed To Be A MiCA Magnet

An already established crypto framework and unique access to the EU and Swiss markets puts the European Economic Area member in prime position to attract crypto firms seeking to set up shop under the EU’s legal regime.

October 8, 2024

Daily Dash: US Senator Elizabeth Warren Calls For Citi To Be Broken Up

A US senator has called for Citi to be broken up following repeated compliance failures, while Sweden is considering new measures to prevent the use of defunct companies in financial crime schemes.

October 8, 2024

Isle Of Man Fines Ex-Licensee CyberHorizon Over AML Breaches

The Isle of Man gambling regulator has fined former licensee CyberHorizon £200,000 ($260,000) over four breaches of anti-money laundering provisions, but reduced the penalty to reward its cooperation.

October 8, 2024

Regulators Remain Concerned About U.S. Sports-Betting Advertising

Concerns about advertising saturation remain top of mind for regulators despite sports-betting operators in the United States slowing their advertising barrage in recent years in pursuit of profits over customer acquisition.

October 7, 2024

Brazilian Government Still Wrestling With Tighter Restrictions

Despite meeting with government ministers to discuss new measures to enforce responsible gaming, Brazil President Luiz Inácio Lula da Silva has held off on making any immediate decisions to impose potentially tougher restrictions on operators.

October 7, 2024

New U.S. Federal Legislation Borrows From European Ideas

As U.S. Senator Richard Blumenthal and Congressman Paul Tonko unveiled federal legislation that could drastically change the framework of betting in the United States last month, one phrase seemed to be stressed repeatedly: public health.

October 7, 2024

Sorare Tells Court It Is Not Guilty Of Illegal Gambling Charges

Fantasy sports website Sorare has pled not guilty to three charges of providing illegal gambling in the UK, with a trial against the Gambling Commission set for next year.

October 7, 2024

Regulatory Influencer: New UK Crypto Advertising Rule Mandates Focus on Investor Audiences

The UK’s Broadcast Committee of Advertising Practice (BCAP) has introduced a new rule on restricting the broadcast of certain crypto-asset advertisements to general audiences. The rule specifically targets fungible and transferable crypto-assets, such as cryptocurrencies and utility tokens, which have been classified by the Financial Conduct Authority (FCA) as restricted mass market investments since 2023.

October 7, 2024

Regulatory Influencer: PSPs In Australia Are Set For A Customer Due Diligence Overhaul

Payment service providers (PSPs) in Australia will face new customer due diligence requirements if proposed changes to the country’s anti-money laundering and counter-terrorist financing framework are adopted by parliament.

October 7, 2024

Daily Dash: EPC Releases Updated Guidance On Mobile-Initiated SEPA Instant Payments

The European Payments Council (EPC) has released new guidance that aims to improve the technical interoperability of SEPA mobile payments, and Swift has announced that it will test live cross-border CBDC transactions in 2025.

October 7, 2024

Meta-Bank Data Sharing Partnership A First Step, But More Work Necessary

Meta’s announcement last week that it is partnering with Metro Bank and NatWest has been welcomed in some areas of the payments ecosystem, but other commentators have warned that it needs to do more.

October 7, 2024

Concerns Remain As £85,000 UK Reimbursement Cap Takes Effect

Despite a last-minute reduction in the cap, UK payment service providers are worried that the new rule on authorised push payment (APP) scam reimbursement may cause more harm than good.

October 7, 2024

US Needs Mandatory APP Fraud Protections, Says Watchdog

A US consumer watchdog has called on regulators to introduce mandatory protections for users of peer-to-peer payment apps, as the battle against authorised push payment (APP) fraud continues to escalate.

October 7, 2024

Philippine Justice Minister Warns East Timor Over POGO Dangers

The Philippine justice minister has warned East Timorese President José Ramos-Horta of the dangers surrounding Philippine foreign-facing online gambling operators (POGOs) who might seek to relocate to East Timor.

October 4, 2024

Ousted German Politician Makes Play For Regulating Online Gambling In Honduras

A Honduran deputy has submitted a bill to regulate online gambling in the country with the backing of a far-right German politician turned investor.

October 4, 2024

Week In Crypto: Changpeng Zhao Walks Free After Four Months In Prison

Changpeng Zhao walks free in California, the UK secures its first conviction for illegal crypto ATM offences, and Sweden labels most crypto exchange providers "professional money launderers".

October 4, 2024

UK Government Authorises PSPs To Tackle Fraud By Slowing Down Payments

New rules that aim to protect consumers by extending the maximum delay for suspicious payments by 72 hours have been given the go-ahead by the UK government, despite concerns from industry.