Quote from: Fortify on Today at 08:25:18 PM

Quote from: Frank_Holo on August 24, 2023, 10:58:53 AM

Hey guys, so I've been doing some digging into fiat-crypto casino payment gateways specifically. Right now Stake.com and Bc.game use Moonpay for their "buy crypto" function, however after contacting Moonpay, Transak and a few other major fiat-crypto payment gateways I've learned that these providers no longer accept new casino business.

In the case of Moonpay they are upholding their existing agreements with casino providers (for now I guess) but new operators are only being accepted with casino licenses in the UK and USA (both of which require their own unique gaming licenses) as well as a reputable international license (e.g. curacao, malta, antigua etc.).

Transak on the other hand are just straight up removing themselves from the gambling industry altogether.

I think it's a real shame that new providers won't have access to reputable fiat to crypto on-ramps, it creates an uneven playing field as the big guys get treated differently.

The reality is that any reputable financial company, including these payment gateways, that wants to transact in US dollars and other popular currencies like Sterling or Euros, will ultimately need to file certain regulatory documents. Casinos have been used for money laundering a lot in the past, so will always come under massive scrutiny all along the chain, which is why there is a big push for KYC at so many casinos and bookmakers lately. If there is even the slightest hint that the money might have any dodgy connections, they will get black marks and after a certain amount of those they become too much of a risk to continue serving. The payment networks are ultimately the culmination of all this money and take on a large part of the risk, which includes jail time if they break the law.

We know that money laundering is been a long time issue ever since and no matter what the payment processors or methods or companies that been involved would really be normally be getting in line

with government rules and regulations on which it would really be that a common approach which getting in line with those laws which its not something new or shocking anymore.Government wont really be that so dumb and blind about those possible loopholes on which tainted money or funds would really be able to pass through and this is why in most possible ways or holes that they could be able to get through then expect that they would really be always 1 step ahead with those people.

It is really just that sad that decentralized platforms or non-kyc turns out to be opposite on the time that this had been strictly implemented because of those probabilities or getting
in touch or integrate with those processors which are really that heavily compliant or regulated specially with fiat.