MittenMachen Miner

The regulation and management of the cryptocurrency and other digital currencies is a job for internal government regulatory bodies.

It is worth to note that the different types of cryptocurrencies available right now are not recognized by most government bodies as a legal currency tender yet.

However, Bitcoin casino business model is still very popular. The new ones are popping up regularly. Any casino can accept Bitcoin, get a license, and operate as a legitimate business in most parts of the world.

Israel’s Money Laundering and Terror Financing Prohibition governmental authorities’ release of the new legislation directly affected the way banks and other financial bodies collaborate with cryptocurrency.

This new legislation was supposed to come into effect since June of 2018 but it was postponed with no disclosed reason till October 2018. Israel has seen some severe uproar as the majority does not support the decision.

This legislation was posed to monitor the cryptocurrency transactions and report any suspicious activity. A source suggests, that they are especially going to target online gambling activities.  They did a brilliant job explaining all current legal aspects of blockchain gambling. But everything may change if the government wants it.