Regulators, politicians, lawmakers and the US Central Bank are examining Facebook’s cryptocurrency, Libra, following its announcement last month. Libra is set to launch in the first half of 2020 and will be used to purchase products, send money internationally and make donations. The newly announced Libra has already raised “serious concerns”, said Federal Reserve Chairman […]

Regulators, politicians, lawmakers and the US Central Bank are examining Facebook’s cryptocurrency, Libra, following its announcement last month.

Libra is set to launch in the first half of 2020 and will be used to purchase products, send money internationally and make donations.

The newly announced Libra has already raised “serious concerns”, said Federal Reserve Chairman Jerome Powell. The considerable skepticism and criticism by US and European politicians was mostly due to Facebook’s past with data privacy issues. 

Powell also reported that both the Federal Reserve System and a separate panel called the Financial Stability Oversight Council will meet to discuss Libra with global policy makers. 

In the European front, French Finance Minister, Bruno Le Maire believes that Libra could work if its use is limited to transactions but Facebook should not be allowed to create a “sovereign currency”. 

The Libra blockchain will be global but not available to US-sanctioned countries, or countries that ban cryptocurrencies.

One year has passed since the launch of the C2 Limassol “temporary casino” and the first satellite casinos C2 Nicosia and C2 Larnaca by Melco Resorts and Entertainment Limited (Melco), one of the world’s largest integrated resort operators that was granted an exclusive 15-year license to operate the first and only authorised casinos in the […]

One year has passed since the launch of the C2 Limassol “temporary casino” and the first satellite casinos C2 Nicosia and C2 Larnaca by Melco Resorts and Entertainment Limited (Melco), one of the world’s largest integrated resort operators that was granted an exclusive 15-year license to operate the first and only authorised casinos in the Republic of Cyprus.

The Chairman and CEO of Melco Group, Lawrence Ho has expressed his excitement with the successful first year of operations on the island. During a conference held to commemorate the anniversary, the public was informed that C2 will be welcoming its one millionth visit in August 2019. 

Big plans ahead for Melco and Cyprus as two more satellite casinos will open soon – one in Ayia Napa, one in Paphos – and the City of Dreams Mediterranean Integrated Casino Resort (ICR) in Limassol which is scheduled to open in late 2021. 

 “Everything is in place for significant and sustainable growth here in Cyprus. The government has a clearly-defined vision, the community is supporting us, and the success of the satellite and pop-up casinos we’ve already opened are evidence of strong consumer demand,” Ho said.

In collaboration with the Department of Antiquities in Archaeological Heritage Management, Melco also announced a unique Corporate Social Responsibility (CSR) initiative that will support on a long-term basis the government’s efforts to sustainably preserve and promote the culture of Cyprus.

William Hill has entered into a consultation process over plans to close around 700 of its shops across the UK following the country’s decision to mandate a £2 maximum bet on Fixed Odds Betting Terminals (FOBTs), a stake is significantly lower than the previous maximum bet of £100. This decision could lead to putting 12,000 […]

William Hill has entered into a consultation process over plans to close around 700 of its shops across the UK following the country’s decision to mandate a £2 maximum bet on Fixed Odds Betting Terminals (FOBTs), a stake is significantly lower than the previous maximum bet of £100.

This decision could lead to putting 12,000 jobs at risk, with 4,500 of them coming from the 700 William Hill shops that are up for closure. The “significant fall” in gaming machine revenues will eventually lead to an overall quarter of betting shops on UK high streets to shut down.

Although the closure is still subject to the outcome of the consultation process, the 4,500 shops are set to begin closing down before the end of the year. The bookmaker and the wider industry have threatened such a move before a crackdown on controversial fixed-odds betting terminal (FOBT) stakes was implemented on 1 April.

William Hill said in a statement: “Since then the company has seen a significant fall in gaming machine revenues, in line with the guidance given when the government’s decision was announced in May 2018.
” They have repeatedly warned that many stores would not be viable when FOBT maximum stakes were cut to £2 from £100, but the government came under pressure to cut down the number of the so-called problem gamblers. FOBT machines were repeatedly described by critics as the “crack cocaine” of gambling and have been blamed for destroying lives and families.

At the same time, the industry was being accused of falling short in its obligations to customers. William Hill announced the possible job losses just days after it joined four other major betting companies in agreeing on a package of measures to bolster funding and support for addicts.

William Hill was able to predict the outcome back when the government first announced the plans to lower the stake and reported that as many as 900 unprofitable shops could close as a result of the move.

Swiss customers of William Hill have been informed by the British online operator that they decided to void their entire ante-post book and they will no longer accept bets from the country as of June 28. This decision is made due to “regulatory reasons”. William Hill will refund all ante-post bets placed through its Swiss […]

Swiss customers of William Hill have been informed by the British online operator that they decided to void their entire ante-post book and they will no longer accept bets from the country as of June 28.

This decision is made due to “regulatory reasons”. William Hill will refund all ante-post bets placed through its Swiss platform, which are around 400 bets in total.

Ciaran O’Brien, the operator’s Communications Director, said about this decision: “All customers will receive refunds, or if they are sitting on a major price change we will refund them at the latest cash out value, even if there’s no cash out market”.

“A vast majority of the bets will be sitting at a lower cash out, so a refund will be better for them. We are currently manually going through the bets now and refunding all customers”.

Yesterday, at 21:00 UTC, Bitcoin has hit an intraday high of $11,307.69, almost €10,000, making a 165 percent price rise, according to Coindesk’s Bitcoin Price Index. That’s the highest level since March, 2018. This rise followed the announcement of Facebook’s cryptocurrency Libra last week. As per “The TIE” announcement on Twitter “The Libra Coin announcement […]

Yesterday, at 21:00 UTC, Bitcoin has hit an intraday high of $11,307.69, almost €10,000, making a 165 percent price rise, according to Coindesk’s Bitcoin Price Index.

That’s the highest level since March, 2018. This rise followed the announcement of Facebook’s cryptocurrency Libra last week.

As per “The TIE” announcement on Twitter “The Libra Coin announcement played a massive role in driving Bitcoin to $10,000. After Facebook’s official partner list for Libra Coin was revealed by @TheBlock__ on June 14th sentiment on Bitcoin almost immediately flipped positive leading significant upwards price movement”

“The price surge is due to two major factors, one is an increasing consensus among the investment community that bitcoin is a legitimate store of value for the digital age, and two Facebook’s Libra cryptocurrency launch has forced every CEO to take crypto seriously” said Jehan Chu, The co-founder of Kenetic Capital.

On Tuesday, the Facebook Inc. has revealed its own cryptocurrency called Libra, designed for its 2.6 billion app & social network users. Libra is expected to be launched for the public in the first half of 2020 and it will be distributed firstly on Messenger and WhatsApp. David Marcus, who is leading the Libra Project […]

On Tuesday, the Facebook Inc. has revealed its own cryptocurrency called Libra, designed for its 2.6 billion app & social network users. Libra is expected to be launched for the public in the first half of 2020 and it will be distributed firstly on Messenger and WhatsApp.

David Marcus, who is leading the Libra Project stated that one of the initiative’s main goals is to reach the 1.7 billion people worldwide who lack access to the banking system. “Libra holds the potential to provide billions of people around the world with access to a more inclusive, more open financial ecosystem.” “If you fast forward a number of years, consumers all over the world will have the ability to access the world economy”, Marcus said.

He added that the concept of decentralization, when combined with digital commerce and Facebook’s massive user base, creates a perfect foundation for a new currency to take off, adding that the Project Libra will provide more competition in financial services, along with increasing access to capital.

Facebook Inc. has also announced a new digital wallet called Calibra that will be available as a standalone app and also available via Facebook Messenger and WhatsApp. Calibra will display to users the value of Libra in their local currency. There will be a lot of features built in facilitating peer to peer transfers and it will be available on both iOS and Android.

The largest European multilingual cryptocurrency exchange, BitPay, has released a survey with main questions such as who uses cryptocurrencies and how. BitPay founded in 2014 by Sylwester Suszek. Currently it serves over 800 000 clients and employs 200+ people. 2,582 Polish cryptocurrency users have been answered 10 questions, including their gender and age. The results […]

The largest European multilingual cryptocurrency exchange, BitPay, has released a survey with main questions such as who uses cryptocurrencies and how.

BitPay founded in 2014 by Sylwester Suszek. Currently it serves over 800 000 clients and employs 200+ people. 2,582 Polish cryptocurrency users have been answered 10 questions, including their gender and age.

The results were shared by BitPay indicating that cryptocurrencies payments are popular among men (91.5%) under the age of 40 (more than 50%), while women make up just 8.5%. The 92% of the people believe that payments using cryptocurrencies will soon become increasingly popular and they prefer BitCoin more than any other digital currency.

90% consider digital currency to be safe for transactions. 15% bought electronics, 3% food and 2% used it for travel. About 25% claimed to have made at least one transaction. More than 50% of respondents have declared that they would like to be able to pay with cryptocurrencies for automotive services.

For more than a year NetShop ISP accepts BitCoin for online payments in cooperation with BitPay.

The iGaming solutions provider BetConstruct has appointed Viktor Hoffmann as the new Global Marketing Director for its B2C brand VBet. Hoffmann has been former CEO of Marathonbet and Chief Marketing Officer at Addison Global, the operator behind MoPlay. Viktor Hoffmann stated: “I am very excited to join VBet at a pivotal time for the business. […]

The iGaming solutions provider BetConstruct has appointed Viktor Hoffmann as the new Global Marketing Director for its B2C brand VBet.

Hoffmann has been former CEO of Marathonbet and Chief Marketing Officer at Addison Global, the operator behind MoPlay.

Viktor Hoffmann stated: “I am very excited to join VBet at a pivotal time for the business. We will revive and reintroduce this distinctive, reputable and trusted brand to the masses and bring innovative new experiences and outstanding value to customers globally.”

He added: “We have a great story to tell, fantastic strategic partnerships to announce and we will leverage the full backing of the entire BetConstruct portfolio. Having had a look under the hood, I am tremendously impressed by BetConstruct’s technology and the talented and imaginative people who make it happen.”

BetConstruct’s founder and CEO, Vigen Badalyan, said: “I am delighted Viktor will join our family and apply his formidable experience and energy to take VBet on the next stage of growth. Our B2C brand is where it all began for us and now we are ready to come full circle and welcome everyone to enjoy their game with VBet.”

John McAfee, the English-American security pioneer and cryptocurrency enthusiast, has announced on Twitter that he is set to launch his own independent cryptocurrency coin, the “McAfee Freedom Coin”. A one-page website is released for the McAfee Freedom Coin, announcing that the coin is coming in the fall of 2019. There is also a statement by […]

John McAfee, the English-American security pioneer and cryptocurrency enthusiast, has announced on Twitter that he is set to launch his own independent cryptocurrency coin, the “McAfee Freedom Coin”.

A one-page website is released for the McAfee Freedom Coin, announcing that the coin is coming in the fall of 2019. There is also a statement by John McAfee, saying among others:

The world of cryptocurrency has been hoping for a crypto equivalent of the above paradigm – a cryptocurrency that people value for it’s purchase power alone. The reason such has not occurred is that all goods and services cannot yet be purchased with cryptocurrency, so the currency holder must exchange with a currency that is accepted for what they want.

This leaves the value of the currency, not in the hands of the users and suppliers, but in the hands of a market whose mechanisms operate through fear, greed, manipulation and the vagaries of external economic conditions. These conditions, in most cases, seldom relate to the economy of the coin in question. The use of a specific coin is therefore subject to the whims of an artificial construct that controls the cryptocurrency usage.

Until this requirement for exchange is obviated, the crypto universe cannot succeed in attaining its goal of economic freedom. What is needed is a coin disconnected from fiat currencies and from other crypto currencies alike – a coin with zero cash-in value, yet accepted universally. The McAfee Freedom Coin is designed to confront the problem of exchange head on, using a unique paradigm and a new structural concept. It is not based on any commodity nor is it connected to the value or behavior of any external item or entity. The value of the coin will always be zero in relation to any other currency yet it’s natural market value is free, completely, to grow.

The McAfee Freedom Coin is not, by any means, a technology breakthrough – the coin’s makeup is trivial and there is nothing new in it. The uniqueness comes from a new approach to understanding the evolution of cryptocurrency and the mechanisms that have kept the Holy Grail of cryptocurrency – economic freedom – out of our reach.

113 suspects for running illegal gambling dens have been arrested recently by the Turkish authorities, as the country has highly regulated Gambling Laws. A further 709 people were also arrested who were allegedly involved in other crimes. 28,000 police officers police and military officers deployed for the search on over 20,000 locations such as coffee […]

113 suspects for running illegal gambling dens have been arrested recently by the Turkish authorities, as the country has highly regulated Gambling Laws.

A further 709 people were also arrested who were allegedly involved in other crimes. 28,000 police officers police and military officers deployed for the search on over 20,000 locations such as coffee houses, shops, and also offices of various organizations and associations.

Alongside the arrests, 77 workplaces which were being used as illegal casinos were shut down. Also, 325 gambling venues and their owners have been fined for allowing on their property.

The authorities have stated that more shutdowns will follow.

The British online gaming operator Bet365 Group Ltd has confirmed that it is to relocate its operations from Gibraltar to Malta, due to Brexit indecisiveness. A lot of companies are withdrawing their operations from the UK or British territories as Brexit has caused uncertainty for a huge amount of businesses. As a Bet365 spokesperson said […]

The British online gaming operator Bet365 Group Ltd has confirmed that it is to relocate its operations from Gibraltar to Malta, due to Brexit indecisiveness. A lot of companies are withdrawing their operations from the UK or British territories as Brexit has caused uncertainty for a huge amount of businesses.

As a Bet365 spokesperson said that the company continues to operate in a “highly uncertain environment, driven primarily by the continuing Brexit landscape”, and this had a major impact on its decision to expand in Malta. For years, Bet365 has operated with a dual regulatory and licensing strategy position between Malta and Gibraltar.

According to a statement Bet365 made, it said:
“As part of our strategic and contingency plans to ensure EU market access and to maintain and enhance operational efficiencies, we have been building our presence in Malta and operating a dual regulatory and licensing strategy between Gibraltar and Malta for a number of years.”
“However, from an operational and technical perspective and given our operating model, it has become increasingly challenging to efficiently run such multi-site operations and this has necessarily resulted in us conducting a review of our operations.”
“We also continue to operate in a highly uncertain environment, driven primarily by the continuing Brexit landscape. Therefore, to assist with business planning and in order to maintain operational effectiveness, we intend to enhance our Maltese operational hub and relocate certain functionality there.”
“We are now consulting with staff in relation to such relocation. It is intended to maintain a presence in Gibraltar and the final rationalisation will be determined after we have completed our staff consultation.”

As a result of Brexit, other operators such as William Hill and Paddy Power have also removed their operations from Gibraltar.

The Malta Gaming Authority participated in the annual conference of the Gaming Regulators European Forum (GREF), held in Limassol, Cyprus. The conference was exclusively attended by gaming regulators, primarily by GREF’s members. The main theme of the conference was ‘Exploring the boundaries between gambling and financial regulation’, and included topics relating to alternative payment methods, […]

The Malta Gaming Authority participated in the annual conference of the Gaming Regulators European Forum (GREF), held in Limassol, Cyprus. The conference was exclusively attended by gaming regulators, primarily by GREF’s members.

The main theme of the conference was ‘Exploring the boundaries between gambling and financial regulation’, and included topics relating to alternative payment methods, payment blocking measures, the parallels between gambling products, and gambling-like financial products, as well as virtual currencies.

The MGA’s Chief Legal Counsel, Carl Brincat, delivered a presentation during a session entitled ‘Virtual currencies and gambling regulation: the Maltese case’ relating to the MGA’s sandbox framework for the acceptance of Virtual Financial Assets and the use of the Distributed Ledger Technology within the gaming industry.

Carl Brincat was joined by Gerd Sapiano, Senior Analyst within the Securities and Market Supervision Unit within the Malta Financial Services Authority, as well as Nicholas Warren, a private financial services and blockchain consultant.