Post
Topic
Board Gambling discussion
Re: Money laundering in crypto casino
by
adultcrypto
on 16/12/2023, 05:13:49 UTC
Is there any possibility that crypto casino will be seized by the government just like what happened to mixers in case they failed to screen the laundering activity?
It is really a difficult situation that makes the casinos helpless. Blockchain transactions are opened to the public and if money from an illegal source made it to a casino, the authorities can easily see it and this might be a problem to the casino. Even when the casino is not aware of where the money is coming from and what happened there, the authorities may not care and would want to act decisively. I don't know what will be the end result of this because it requires a legal practitioner to interpret but I do know that the casino will not find it funny in the end. If  the authorities do further investigation and discovered that the casino do not perform KYC, they might get infuriated because they hate being in the dark. Like I said before, it is a helpless situation for the casinos.