How tighter bitcoin regulation will affect the future of online gambling
Governments around the world are keen to regulate cryptocurrencies and develop their own digital currencies with the support of central banks. For years, the idea that tax-hungry regulators want to make cryptocurrencies illegal or throw people in jail has been something of a dark cloud that hovers over the heads of even the most hopeful cryptocurrency enthusiasts. Now that Bitcoin is seen as an institutional investment and a means of savings, rather than a substitute for everyday transactions, governments have no choice but to develop rules that still allow for the use of digital assets as investments.
However, the relationship between cryptocurrencies as investments and cryptocurrencies as a threat to overthrow governments remains unclear.
Surprisingly, the threat of bitcoin regulation and how cryptocurrency exchanges trade it with customers could actually help gambling as much as curbing the desire to use the exchange. Let's delve into why this is the case.
US secretary of state hopes to introduce new crypto regulation
Stephen Manchin is the US secretary of state. He is proposing new regulations that would require corporations doing business with cryptocurrencies, including usdt casino games, to not only follow anti-money laundering policies and know your customer, but only do business with other companies that follow the same policies.
This level of regulation is designed to stifle illegal business and protect consumers. It is not necessarily intended to chill cryptocurrencies as an asset class.
It doesn't mean that some big influencers in the cryptocurrency world don't like what's coming next. Brian Armstrong is the CEO of Coinbase.com, one of the largest and most widely used cryptocurrency exchanges in the world. Armstrong believes the new rules could halt the growth of the cryptocurrency economy. He tweeted this recently after it was announced that Coinbase would have to restrict margin trading on its platform.
How the proposed rules could help bitcoin gambling
Many of the most exciting, most profitable, and most trusted bitcoin gambling sites, including usdt casino games, operate in small offshore countries with favorable bitcoin, tax, and commercial rules. Knowing this, you might think that these businesses are completely immune to what's going on with the rules. But the truth is that most bitcoin gambling sites, which have been around for at least a few years and have gained some credibility in the bitcoin gambling arena, probably welcome regulation.
Yes, regulation could mean that bitcoin casinos have to follow more regulations in order to attract US customers, but it's also important to consider that even most bitcoin gambling operators that thrive overseas are missing out on a huge chunk of the market because they have to restrict the use of their gaming platforms to countries that do not include the US.
The truth is that gambling is a competitive industry, and bitcoin-friendly sites are always competing for your entertainment money; they also operate in a unique bubble that creates unique challenges for business people looking to profit in the industry. This means that bitcoin gambling operators have an added incentive to work together and ensure regulatory compliance. Ultimately, this could not only open up US customers to gambling operators, but it also shows US players and players around the world that bitcoin-friendly sites, including usdt casino games, are legal and safe to use.
When it comes to online gambling, trust is huge, especially when you run your business with cryptocurrency.
The future of bitcoin gambling is bright no matter what
No one likes the feeling of someone looking over their shoulder. Most players probably want the fun and excitement they experience online to remain private. That's understandable. The truth is that the future of bitcoin gambling, including usdt casino games, is bright, regardless of what regulators do. If regulators behave in a way that makes it difficult for off-island people to gamble, cryptocurrencies will continue to rise in value, and those who already gamble with them, including usdt casino games, will continue to do so.
If the opposite happens and the floodgates open, there will be a world of opportunity in front of operators, especially those offering usdt casino games. Thus, the future of bitcoin gambling, including usdt casino games, is bright, regardless of what regulators try to do about it.
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