Re: Information of Crypto Casinos License and KYC requirements

One of the oldest and most popular Crypto currency casinos, namely Freebitco.in are not licensed and they also do not require KYC details. What does that tell you about the "needs" of the "clients" in this industry?

Gambling licenses don't appear to offer much benefits other than to ensure that behind every platform is a legitimate company that has all the necessary legal rights and responsibilities.

Freebitco.in is in a completely different ballpark. They have a long history and reputation in the community, so the license does not mean anything in their case, unlike many new gambling platforms that have sprung up without being vetted by the Bitcoin community.

Having that sign of legitimacy in the form of a license is a benefit or an advantage because people won't doubt too much and they will play on that site. Every new site have that because that is one of their edge for them to get noticed by the player while most old gambling site don't have a license yet because I think regulation back on time are not heavy as today and even without a license, lots of people are still going to trust them due to their age.

One of the reason that I can think of on why freebitco doesn't have a license is because it was not a real gambling site but it is more on a faucet site where you can get free bitcoins. This is where the starters headed at and it will be a hassle if they are required to do a KYC only for this.

I also think that when it comes to such old and trusted casinos as freebitco.in, having a license is just a formality. Moreover, the presence of all kinds of licenses cannot be a 100% guarantee in the activities of any casino.

Well, KYC is a nasty function thought out by the Americans to control everything and everyone, it's just a mockery of the very essence of the anonymity of cryptocurrencies, which has been the main and undeniable advantage of this alternative financial system since their very foundation by Satoshi Nakamoto. By the way, the identity of Satoshi, which has not been unraveled, is another confirmation of the importance of anonymity.