Quote from: Easternbloc on February 01, 2018, 09:01:13 PM

Quote from: stonehedge on January 26, 2018, 03:58:25 PM

Hi stonehenge, its seems to me that people don't really understand, or potentially have been mislead in to thinking, that this coin is part of any regulatory framework. It is not. Both Alderney and the UK gaming commissions, which cashbet hold their regulated licenses under DO NOT allow crypto-gambling or any ICO's to be associated with their licenses. There is currently only one license, Gibraltar, that would allow any DLT (distributed ledger) to be allowed under their structure.

Hi Easternbloc. You are unfortunately misinformed about a number of things which I will attempt to clear up now.

1. Both the Alderney Gambling Control Commission (AGCC) and the UK Gambling Control Commission are aware of our (CashBet's) ICO. We have been working closely with them, as other whitelisted jurisdictions do have frameworks allowing crypto wagering.

2. The UK Gambling Commission (UKGC) stance on cryptocurrency wagering has been published by them here: http://www.gamblingcommission.gov.uk/for-the-public/Safer-gambling/Consumer-guides/Gambling-with-digital-and-virtual-currencies.aspx. They advise caution, as the currencies are not regulated. However, they do not prohibit crypto-gambling as you state.

3. The Isle of Man's Gambling Supervision Commission (GSC) became the FIRST whitelisted jurisdiction to put forth an AML framework for virtual currency and skins wagering (NOT Gibraltar, as you imply). CashBet intends to become the first cryptocasino licensed by this jurisdiction under this framework and will use Model 4 described in the GSCs AML Guidance Notes for Virtual Currencies, described on page 7 here: https://www.gov.im/media/1356960/aml-guidance-notes-virtual-currencies.pdf. This model is used because:
a. It is legal
b. It is the only way to allow cryptocurrency wagers to be made with the games provided by large aggregators with no blockchain roadmap.

4. In addition to the use of CBC as described in model 4, CBC is also being used by social casinos (Novomatics Game Twist and Imperial Plays Steam Palace) who are actively integrating CBC as a purchase method now. CBC is also now available (as of May 16, 2018) to be used to stake VIP play on a brand we operate: www.jennyvegas.com. We have come to an agreement for the token and the platform to be used by Lottery.com. And we have a vibrant and substantial roadmap of features intended to bring mass adoption and legitimacy to this industry. This will include features making use of blockchain technology and the CashBet Coin.

5. As far as recourse for our customers, we are obligated to respond appropriately to customer complaints and have appointed a neutral 3rd party adjudication service (eCogra) to handle disputes which we are unable to resolve amicably with the customer.

As far as Stonehenge's comments, he or she is correct. We will never offer any unregulated online gambling. I hope this sets the record straight.

Mike Reaves
CEO & Co-Founder
CashBet