Legality of Crypto Casinos: A Slippery Slope
The legality of crypto casinos remains a controversial matter. As with many innovations, regulation arrives at different rates depending on the territory, and in this case, not because of the gambling activity itself, but due to the use of cryptocurrencies. Thus, the answer to whether these casinos are legal or not directly depends on each country. Some have already legalized them; others are completely opposed, and a third group stays neutral: they don't prohibit the activity, but neither do they regulate it, leaving players without protection if a problem arises.
Although the regulatory framework evolves slowly, more and more countries are adopting an open stance towards digital assets. Malta and Estonia, for instance, are making progress in creating specific regulations for these platforms. Nevertheless, the scenario varies even among states within the same country (as is the case in the United States), so the only safe recommendation is to research the local legislation before opening or using a crypto casino.
Europe: A Mosaic of Regulations
In Europe, there are several reference cases. Countries like the United Kingdom, Italy, the Netherlands, Greece, Poland, and Belgium regulate both online gambling and cryptocurrency transactions. In Spain, the Directorate General for the Regulation of Gambling has not yet established a specific framework for crypto casinos, although their activity is legal as long as it adheres to general gambling regulations.
The United Kingdom also allows bets with cryptocurrencies as long as providers comply with current legislation. However, the Gambling Commission warns users about the risks of operating on unlicensed sites. Overall, the European Union is at the forefront of crypto transactions: Malta leads regulatory initiatives, although there is still a lack of comprehensive rules covering all activities related to these assets.
United States: Case by Case
In the United States, the situation is more complex. The legality of crypto casinos varies from state to state, and some territories still do not permit either online gambling or the use of cryptocurrencies. Given that regulations change frequently, the most prudent approach is to analyze the current legal framework in the specific state before starting any project. Despite the uncertainty, experience shows that the process can be simpler than it seems with the right guidance.
Latin America: Uneven Progress
In Latin America, similar circumstances occur. Venezuela and Colombia legalize gambling and accept cryptocurrencies as a payment method. Chile, on the other hand, only allows in-person gambling. In June 2023, Brazil passed a law regulating cryptocurrencies, although it still lacks specific provisions for crypto casinos, despite online gambling being legal.
The regulatory landscape advances and redefines itself throughout the region, so it is advisable to stay informed and thoroughly examine the legislation of each country before launching a project.
Conclusion: Each Country, a World
The absence of a global framework makes the legality of crypto casinos a changing and, at times, confusing matter. Nevertheless, cryptocurrencies are gaining ground, and operators can find opportunities where regulations are more favorable. Evaluating each jurisdiction, adapting to its requirements, and having up-to-date knowledge of the sector is essential to harness the potential of these platforms. At Calímaco, we continuously analyze the regulatory environment and support operators who wish to create or expand their crypto casino offerings.
