Insights

Chinese authorities have announced the partial dismantling of a 400bn yuan ($55bn) gambling syndicate trading with cryptocurrency, following raids in at least four provinces and the arrest of 130 suspects.

Financial regulators are more aware of de-risking and how it impacts financial exclusion, but it has not necessarily decreased, a new report from the European Banking Authority (EBA) says.

As Ripple celebrates its victory in court over the US Securities and Exchange Commission (SEC), legal observers caution that regulatory clarity — although getting closer — is still a long way to go.

A Mexican citizen has filed a challenge against the country’s central bank and financial system regulator for their failure to issue secondary regulations underpinning open finance in Mexico.

Done Bros (Cash Betting) Limited, trading as Betfred, has reached a £3.25m settlement in the UK for a host of “serious” social responsibility deficiencies and anti-money laundering (AML) failings.

The National Indian Gaming Commission has issued a formal warning to tribal gaming operators and regulators over a series of imposter scams involving individuals claiming to be senior executives, or state or tribal regulatory officials.

Lottery courier services should have to earn the privilege of participating in state lottery sales and be disqualified if they also distribute U.S. tickets internationally, according to a set of best practices outlined in a report commissioned by leading courier Jackpocket.

The Indian ministry overseeing development of the online gaming industry will ask the country’s tax council to review a potentially fatal 28 percent goods and services tax (GST) on gaming operator volume amid industry dismay at the decision.

Another promised deadline for the introduction of a so-called provisional measure to regulate sports betting in Brazil has now come and gone, with the congressional recess meaning that the industry is unlikely to see legislation until at least mid-August.

There is a “critical need” for “good data” in France as lawmakers explore the prospects of opening online casinos, according to a representative from the Autorite Nationale des Jeux (ANJ).

June 7, 2023 marked one of the most active days of regulatory activity in Australia to date this year, as the government published its strategic plan for the Australian payments system. The government also launched two consultations: the first consultation aims at tackling proposed amendments to the Payments Systems (Regulation) Act 1998 (PSRA 1998); and the second consultation focuses on a list of payment functions designed to potentially form a foundation for a new licensing framework for payment service providers. This regulatory analysis will explore the background and key drivers motivating the initiatives.

A variety of public and private players have announced plans to take part in the Centre for Finance, Innovation and Technology’s initial work to promote financial data use cases.

IBAN discrimination is widespread across Europe, despite being illegal. The EU’s payments package released at the end of June aims to close a vital loophole, but there is a long road ahead to put an end to the costly practice.

Payments experts are unphased by the merging of requirements in the Electronic Money Directive (EMD2) into the third Payment Services Directive (PSD3).

Australia’s second most populous state will introduce tough new restrictions on electronic gaming machines in clubs and pubs, including cutting the load-up maximum by 90 percent and mandating loss limits and cashless play.

A committee of state lawmakers unanimously approved a resolution on responsible gaming and problem gambling on Friday, in an effort to bring more attention to both subjects as legislators consider developing more robust standards.

Describing online casino as the missing leg of the gaming stool in Maryland, Democratic state Senator Ron Watson believes he and his colleagues will be able to get a bill through the legislature when they return to Annapolis in January.

The UK Gambling Commission has been given the green light by the Information Commissioner’s Office (ICO) to progress its single customer view and financial risk assessment projects.

Former Celsius CEO Alex Mashinsky is arrested in New York, Celsius’ new management agrees to one of the largest FTC settlements ever, and Binance faces an executive exodus.

Most central banks see potential value in having both a retail central bank digital currency (CBDC) and a fast payment system, a new paper by the Bank for International Settlements (BIS) finds.