Post
Topic
Board Gambling
Re: A way to attract new users or a misunderstanding?
by
Wakate
on 28/04/2023, 23:52:33 UTC
I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.
If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.
Is like we have forgotten that many casinos are  established for the sake of making more profits that is why it will be very rare to see casino that would establish this kind of law on there customers. This will make many gamblers to leave the casino for other better ones if they find out that the rules are too severe for them to accept or continue using.
If can't create a business and make it so strick that even the little customers that you have will not want to use your platform again because of what they have experienced so far from subscribing to your product.