Insights

Gambling operators are increasingly valuing the input of people with lived experience of gambling harm to help drive safer-gambling strategies, industry experts say.

On June 29, 2023, the Financial Services and Markets (FSM) Bill received royal assent to become the Financial Services and Markets Act 2023 (FSMA 2023). The FSMA 2023 revokes the EU retained law relating to financial services and markets in the UK and aims to promote investment and to support innovation within the economy. It introduces new secondary objectives for the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to facilitate the growth and international competitiveness of the UK economy through Sections 25 and 26. Section 25 covers the competitiveness and growth objective, while Section 26 covers the reporting requirements of this. The act enters into force at different dates.

With less than two weeks to go until new rules on crypto-asset promotions come into effect, the Financial Conduct Authority (FCA) has revealed that it has “serious concerns” about firms’ readiness to comply.

Officials at the European Banking Authority (EBA) and the National Bank of Belgium are facing “serious questions” about the cohesion of the EU’s new crypto framework and its payment services regime.

Mexico’s antitrust watchdog has urged the country’s financial regulators to fix what it says is an anti-competitive card processing market and establish an interchange fee cap.

After making its mark on UK gambling policy, the Campaign for Fairer Gambling launched in the U.S. on Tuesday (September 26) with a briefing for congressional staff and media at the U.S. Capitol building in Washington.

Startup sports-betting operator Betr has agreed to absorb the customer balances of a now-defunct daily fantasy operation that abruptly closed its doors over the summer, leaving customers in limbo.

As some Maryland lawmakers urge regulators to reopen the application window for sports-betting licenses, others are looking to push an internet gaming bill through the legislature when members return to Annapolis in January.

Chile intends to use a recent Supreme Court ruling involving one internet service provider to apply market-wide blocking of leading online betting sites, according to a top government official.

The head of Gibraltar’s gambling regulator has dismissed claims that its reputation as a gambling hub is under threat, as the jurisdiction prepares to update its regulations.

A new report by the Swedish government has raised doubts about the need for an e-krona, marking a change in tone for a country that was a first-mover in the study of central bank digital currency.

The European Commission has responded to a query from a member of the European Parliament (MEP) on card fees and whether they harm merchants’ competitiveness.

In a letter addressed to several members of the US Congress, Mastercard has argued that new credit card legislation, if adopted, would put consumers at risk.

The European Payments Initiative has unveiled the commercial name for its digital wallet solution, a US regulator has proposed that medical bills are removed from credit reports, and Uncapped has scrapped its revenue-based finance service.

India’s sole land-based gambling listco Delta Corp has said it will fight the central government’s goods and services tax (GST) authority in court after receiving a demand for $2bn in unpaid GST on casino betting volume.

Tension between state gambling regulators and operators of pick ’em fantasy-sports games is escalating after Florida’s regulator demanded an immediate halt to solicitation of alleged sports wagers by PrizePicks and other fantasy companies.

Mexican operators, union groups and local and international associations are pushing back hard against a draft regulatory decree that would ban all gaming machines and casino-style games in the country.

Gambling regulators across Europe have held two separate conferences in the north and south of the continent over the past two weeks to share best practices and strengthen collaboration.

A New York regulator has reduced the number of "Greenlisted" crypto-assets in the state from 25 to eight, and has issued new proposals on how firms should handle coin listings and delistings.

As US credit card debt reaches an all-time high, a Republican senator has introduced new legislation to limit the annual percentage rate for credit cards to 18 percent.