Post
Topic
Board Gambling discussion
Re: Why kyc is even required?
by
Daimon88
on 27/02/2018, 05:37:02 UTC
I think casinos are starting to adopt KYC as a way of protecting their site from illegal activities or investment. Since government saw the opportunity of using cryptos to hide money from corruption, sooner they will implement requiring of records from different exchanges as well as gambling site to prevent illegal activities. I also see that sooner full adoption of digital currency will take place so government needs to put some regulations for it.
Well, if we are trying to look at the aspect of the government regulation and how that may affect some of the gambling site as well, which is the reason they are taking the precautionary measure of the KYC thing, then that may stand, but in the literal sense, it really does not mean anything. Gambling site is not like an exchange and it is not like I can buy bitcoin and gamble directly there with fiat, unless I am missing something with the whole idea of KYC policies.