Pros:
1. Can help regulate the spam casinos
2. People will have security
3. They will be protected by the laws
Cons:
1. People will have to actually pay up more indirectly for extra charges
2. No privacy
For me, it is okay if the government will try to regulate the online casinos. When the pandemic started, lots of offline casinos in different countries have been closed for oublic due to modified enhanced community quarantine and also the emerging online casinos start to bloom. I don't see any problem whenever government will dive into regulating online casinos. Security of the gamblers will be assured. Ofcourse those casinos who are registered in our government have complete papers and definitely not a scam.