Singapore's parliament has passed amendments to the Casino Regulation Act aimed at further enhancing the effectiveness of the country's casino regulatory regime and its safeguards for disadvantaged groups.
The amendments make some significant changes to Singapore's casino regulatory framework. The GRA will be given more powers to regulate more forms of gambling within casinos, including betting and lotteries. This will prevent the regulatory regime from becoming obsolete due to new products that casino operators may introduce.
At the same time, the amendments being implemented cover digital currencies. First, cryptocurrencies will not be licensed by the GRA for use as casino chips. Officials cited money laundering risks as the main reason for the ban.
Singapore bans the use of cryptocurrencies in gambling to curb illegal activities
2024-09-12 04:16:07
Singapore parliament passed casino governing law amendments further improvedesk3cryptocurrencydesktopCrypto News
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