Without a global consensus, the legality of crypto casinos remains a slippery slope. Like any innovation, their regulation is taking time to arrive, in some areas more than in others, and not because of their own activity, but because of the assets with which they operate: cryptocurrencies.
But, as far as we are concerned, are they legal or not? As we said, it is a question of countries. While some have legalized them, others do not seem to be in favor of it. And then there is the third group: the countries that remain on the sidelines. They don’t ban them, but they don’t regulate them either, leaving players somewhat helpless if a problem arises.
As we often say, the rules of the game are changing. Also for crypto casinos (and cryptocurrencies). And the fact is that, although regulation is taking time, more and more countries are adopting a positive and open attitude towards cryptocurrencies. For example, Malta and Estonia are taking steps to regulate these casinos.
However, the landscape changes from country to country, even from state to state (in the case of the United States). Therefore, it is important to research local laws before entering the world of crypto casinos.
The legality of crypto casinos in Europe
United Kingdom, Italy, Netherlands, Greece, Poland, Belgium. These are some European countries where not only there is an official regulation on online gambling, they also regulate cryptocurrency activities.
In the case of Spain, crypto casinos are not yet regulated by the Dirección General de Ordenación del Juego (DGOJ). However, they are legal, as long as they operate following local regulation.
United Kingdom also allows cryptocurrency gambling, as long as the service providers adhere to the laws on this type of gambling. Hence, numerous online gambling platforms and service providers accept cryptocurrencies as a payment method. But, although the UK Gambling Commission allows such gambling, it warns players of the risk of doing so on sites that are not trusted.
In short, as a pioneer in the legalization of cryptocurrencies, the European Union is at the forefront of crypto transactions. There is still no comprehensive regulation to govern activities related to these assets, but, as far as cryptocurrency regulation is concerned, Malta is leading the way.
What is happening in the United States?
In the case of the United States, the answer is complicated. The legality of crypto casinos is not entirely clear and the specific cases of each state have to be reviewed. Some still do not allow online casinos, let alone the use of cryptocurrencies.
But, as regulation is constantly changing, we recommend you to consult us for your specific case. And, while we’re at it, we’ll share with you an example of a crypto casino in the United States.
We know that this uncertainty can be overwhelming when starting your crypto casino project in the United States, but, according to our experience, it is much easier than it seems. Contact us and we will help you.
The legality of crypto casinos in Latam
In the case of Latin America, the regulation of online casinos and crypto casinos also depends on the countries. For example, while in Venezuela and Colombia they have legalized gambling and accept cryptocurrencies as payment; in Chile gambling is legal, but online casinos are not yet.
In Brazil, for example, a law to regulate cryptocurrencies has just come into force (June 2023) and, although online gambling is legal, there is still no specific regulation for crypto casinos.
As it happens in the United States, the different Latin American countries are changing their regulations regarding the gambling sector. Therefore, it is advisable to be up to date and thoroughly analyze the legislation of each country before developing a crypto casino project.
At Calímaco we work with operators in Latin America and we are aware of the latest developments in each country. Therefore, we can help you with your project, regardless of whether you want to create a new casino or add value to yours by offering new options to your customers.
Each country, a world of its own
Legal or not, regulated or not. The crypto world is something relatively recent and many countries are still looking for the formula to integrate it into their systems. For some it is the present, for others the future. There is no doubt that cryptocurrencies are gradually finding their place, and casinos are no exception.
At Calímaco we have been analyzing the gaming sector in different countries for some time and we are aware that the legality of crypto casinos is still a slippery slope for many operators. However, it is much simpler than it seems. Contact us and we will help you.