One fairly common complain among gamblers is they are allowed to make a deposit at casinos and lose their money without any issue, but if they happen to win and they want to make a withdrawal then they are hit with a KYC request almost immediately, Tonybet a fiat Estonian casino was fined more than 400,000 pounds for this practice and it seems the regulators are now interested in making reforms to the laws and force casinos to also make checks on those gamblers which have lost a lot of money.
If those new regulations are passed they will affect not only fiat casinos but cryptocurrency casinos will have to eventually follow them as well, do you agree with this idea? Would you like to see casinos to be fined more often for the practice of only asking for personal information from winning gamblers or do you think this will have a harmful effect on their finances?
Source:
https://www.theguardian.com/society/2023/jan/18/tonybet-fined-regulator-online-betting-id-checks-termsWell its about time! Too many gambling casinos are using a weaponized form of KYC just in hopes that they will get their money back one way or another from the winners who cannot or do not provide KYC due to their own reasons. Or they use KYC as a stalling tactic until the only choice is to get a lawyer or give up their winnings. Its quite disgusting at this point because they know that not everyone has the strength to fight back.
Either you demand KYC or you do not. Making withdrawing funds harder for winners only is not ok.