Bitcoin is forcing regulators to license online casinos

Cryptocurrencies started very small with the advent of bitcoin over ten years ago. At that time, the digital currencies were still fairly unknown, there were no regulations whatsoever and the use of the coins was still practically anonymous. The idea quickly emerged that Bitcoin in particular could become the anonymous and efficient alternative to the ailing classic financial system. Bitcoin and altcoins are no longer really anonymous. Finally, there are now some restrictions at the regional level regarding the use of virtual coins. Because to get to the currencies in demand, you sometimes have to endure some verification processes or authentications. Now bitcoin is also finding its way into online casinos.

 

Measures are being tried out

While governments try various measures at the political level under the guise of consumer protection to curb the use of a currency that they can hardly control, nobody knows exactly what could become of Bitcoin and Altcoins. Some see a threat to the classic financial system. Others take a far more sober approach and refer to the successful use of numerous online gaming platforms. Because there are some possibilities, for example, to process money transfers via crypto much more efficiently in terms of time and fees, and bets can be securely stored in blockchains so that they are transparently visible to everyone. There is certainly no shortage of offers from a wide variety of projects, ideas and active companies. In order to make this area controllable to some extent, regulations from politics should scale the usability.