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Compliance Updates

Truegame strengthens its positions by acquiring Curaçao Gaming License

George Miller

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Truegame strengthens its positions by acquiring Curaçao Gaming License
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Truegame -a fully implemented blockchain-based iGaming platform announced obtaining of Gaming License of Curaçao.

 

A smart contract based iGaming platform Truegame has proudly announced acquiring of its first license – a Gaming License under the jurisdiction of Curaçao. The team considers this step to be one of the most significant milestones in the project development.

In order to comply with the requirements of the Regulator, Truegame’s team had to perform a lot of work and to undergo a serious project review. This included deep dive into project’s details, audit of platform’s random number generator and of company structure, due diligence, servers and infrastructure check, etc.

Truegame’s CEO Dmitry Danilov said:

License obtaining is very important turning point in the development of a strong iGaming project like Truegame. Curaçao gaming licence enables such opportunities as extensive legal interaction with players and partners in accordance with international legal standards, access to banking services and payment systems as well as access to all promotional tools, etc”.

He added:

Our team is extremely happy with this significant step in the whole project development. License obtaining additionally proves that Truegame is not only legitimate and trustful project, but also a solid partner”.

Jurisdiction of Curaçao is not the only one Truegame plans to apply for licenses in. Applications to other reputable authorities are scheduled and will follow later.

About Truegame:

Truegame is a fully implemented iGaming platform based on Ethereum smart contracts with more than 37 in-house developed games. The TGAME token is a utility token used for playing games and making bets on the Truegame iGaming platform and is now being at its very final stage of integration into the platform.

About Curaçao eGaming:

Curaçao is one of the oldest and most politically stable providers of regulated eGaming services. Its jurisdictions initiative has championed the eGaming Industry for over a decade. Since 1996 they have maintained unprecedented global recognition and appreciation for their abilities to consistently deliver reliable turn-key professional services to the eGaming and eCommerce marketplace.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Compliance Updates

UK Labour Party Leader Asks UKGC to Cancel the Licenses of Online Gambling Operators

Niji Narayan

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UK Labour Party Leader Asks UKGC to Cancel the Licenses of Online Gambling Operators
Photo Source: independent.co.uk
Reading Time: 1 minute

 

UK Labour Party’s Deputy Leader, Tom Watson, has asked the UK Gambling Commission (UKGC) to cancel the gambling licenses of all online gambling operators who got their licenses after 2014. Watson has written a letter to the UKGC CEO, Neil McArthur and Culture Secretary Jeremy Wright, concerning the malpractices in the UK gambling industry.

Tom Watson had warned that problem gambling is an epidemic in disguise. He said that problem gambling is a public health issue and urged for more research into problem gambling and also for “far more specialist treatment for an addiction that ruins lives.”

Watson says that such operators would need to reapply. He believes that would help in making operators more responsible and also would weed out operators that lack professional and social integrity. He is also seeking a revision of the entire 2005 gambling act.

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Compliance Updates

Spillemyndigheden Introduces Whistleblower Scheme

Niji Narayan

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Spillemyndigheden Introduces Whistleblower Scheme
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Spillemyndigheden, the Danish industry regulator, has launched a new whistleblower scheme for the employees of gambling operators who wish to report evidence of money laundering.

Spillemyndigheden has detailed that employees can report a company’s violation or potential violation of the anti-money laundering legislation to the regulator via a dedicated, anonymous contact form which will then trigger a legal investigation. All submissions will be encrypted to ensure that submissions are secure.

In April, Spillemyndigheden has blocked access to 25 gambling websites after petitioning the country’s telecommunications providers. Danish internet providers have now been obliged to block access to ten igaming sites, in addition to 15 skin betting websites.

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Compliance Updates

EGBA Welcomes the Proposal to Introduce Irish Gambling Regulatory Authority

Niji Narayan

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EGBA Welcomes the Proposal to Introduce Irish Gambling Regulatory Authority
Reading Time: 1 minute

 

Dr. Katie Hartmann, Director of Legal and Regulatory Affairs of the European Gaming and Betting Association has spoken at a stakeholder seminar in Dublin about the proposed changes to the gambling regulations in Ireland.

The seminar was part of the legislative package to regulate gambling activity in Ireland, including the online sector. The new bill foresees the creation of an independent gambling regulator and a number of other changes to Ireland’s gambling framework.

Dr Hartmann said: “We welcome the proposal to establish an independent gambling authority and will follow closely the discussions on how the new regulator will be established and the powers it will have.

It is in the interest of everyone involved in the gambling sector – companies, players and policymakers – to have a well-regulated online gambling market, which provides legal certainty and protects Irish players by ensuring they can play within a regulated environment. To enable this, a Gross Gaming revenue tax, among others, is of crucial importance so that licensed gambling operators can offer a competitive product.

For the law to be a success it should introduce a licensing system which is competitive and establishes a high degree of standards for operators and consumers alike.

All reputable operators already have responsible gaming tools in place, but regulation should make those obligatory for all operators on the Irish market. Likewise, the Irish authorities should consider introducing a self-exclusion register for those who have, or are at risk of, problem gambling behaviour. These punters should be able to exclude themselves from accessing gambling websites if they feel the need to.

We look forward to the finalisation of the draft law and will work constructively with the proposed gambling authority to implement it.”

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