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Ukraine to legalise cryptocurrencies

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Ukraine is edging close to make cryptocurrencies legal. There are already several attempts to draft laws to legalise the industry, but none has reached its logical conclusion.

Michell Vidyakin, Director of Strategy and Reforms Department at National Bank, opines that the state cannot take autonomous decisions in the field of cryptocurrencies apart from European norms.

He said: “These currencies have not yet been issued by any central bank. Why do not they fall into cash regulation? Because they have no physical form. Why cannot they be used as electronic money? Because they are not tied to the accounts of banks or other organisations that have a financial license. Now the process of determining the status of cryptocurrencies and the mechanism for their regulation is hampered by the lack of a unified approach in European legislation, as Ukraine aims to harmonize Ukrainian laws with European ones,”.

According to the lawyer Artem Afyan, cryptocurrencies are already mentioned in Ukrainian Classifier of Economic Activities, which already provides some legal basis at least for mining. According to Afyan, at first Ukraine completely ignored the problem of regulation, which was the best it could do at that time. However, in order cryptocurrencies business to develop further, Ukrainian law needs to explain the rules of the game. The biggest problem is the fact that there is still no official definition or explanation of the term “cryptocurrencies”.

Some good news for the industry appeared this May. The National Securities and Stock Market Commission of Ukraine (NSCCB) will propose for consideration of the Financial Stability Board to recognise cryptocurrency as a financial instrument. This was reported by the head of the commission Timur Khromaev. In November 2017, consideration of all draft laws on legalisation of cryptocurrencies in the territory of Ukraine was postponed due to the fact that the NSCCB insisted on changing the terminology used in the documents.

Source: forklog.com


Source: European Gaming Media and Events

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Integration of EGT Global Jackpot with Winbet and Club King Marks Great Success

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Integration of EGT Global Jackpot with Winbet and Club King Marks Great SuccessReading Time: 1 minute

 

The EGT Global Jackpot’s integration with Winbet and Club King has achieved success through offering entertainment and winnings for both operators and players.

The operators’ success and players’ entertainment are always the core objectives of EGT sales, development and production teams. When innovation joins these approaches, EGT solutions are the reliable choices for winning businesses.

EGT supports the operators to make proposals to its customers they couldn’t refuse, with the integration of the EGT Global Jackpot into their gaming halls. Global Jackpot is developed to connect all slot machines and any type of roulette from all locations of operators across the country. Thus, the total bet generates the possibility of higher winnings compared to those offered by the local jackpots.

At Winbet, the Global Jackpot has been functional since March this year and has brought multiple winnings to the luckiest players. Recently, Club King has also integrated the Global Jackpot in favour of top entertainment and winnings for both operators and players.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Integration of EGT Global Jackpot with Winbet and Club King Marks Great Success

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New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

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New York State Lottery Reports Record Revenues for the 2018 Fiscal YearReading Time: 1 minute

 

The New York Lottery has recorded $8.2 billion in sales for the state fiscal year that ended in March 31, 2019. That includes sales from Powerball, Jackpot, Mega Millions, Scratch Off, Quick Draw and other games, plus revenues generated by the state’s licensed video lottery locations.

The video lottery net win for the 2018-2019 fiscal year was $2.08 billion, third largest in the world behind two Italian lottery operators. The combined sales and net win earnings for the last fiscal year are a new record for the New York Lottery. The New York Lottery generated $3.47 billion in aid designated to support the state’s schools.

The lottery revenues are distributed to school districts according to the same formula used for state aid. A larger, poorer district will receive a higher percentage than a smaller, more affluent one. Lottery contributions account for 13% of all state aid to education for 2018-2019.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

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Spillemyndigheden Introduces Whistleblower Scheme

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Spillemyndigheden Introduces Whistleblower SchemeReading Time: 1 minute

 

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.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Spillemyndigheden Introduces Whistleblower Scheme

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