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Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation

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Fintech companies in Kazakhstan are urging greater scrutiny of a proposed law intended to regulate betting transactions in the country.

The submitted legislation, currently in its final reading, would form a monopoly entity, the Unified Accounting System (UAS), the firms said in a joint press release. The UAS would be used to determine market participants, process payments, maintain a single “electronic wallet” and make settlements with clients. A critical concern is that it could charge up to 1.5% in commissions on all market transactions, within a market where regulated transactions exceed KZT1.2tn ($2.6bn) annually.

Irina Davidenko, a spokesperson for Kazakhstan’s payments industry, commented: “The proposed legislation would be a step backwards for Kazakhstan, harming competition in the country’s vital payments sector and signaling to the outside world that necessary business reform is being driven by shadowy interests, rather than what’s right for industries and consumers.”

The proposal, partly billed as a public health move against problem gambling, resembles a previous initiative, the Betting Accounting Centre (BAC). It was shelved in 2021 after a scandal involving a deputy minister who was dismissed for accepting bribes from BAC lobbyists, according to the press release.

The lack of transparency on the UAS structure and ownership as outlined in the legislation is another aspect of the change that is seen by critics as troubling.

The reintroduction of a UAS model occurred as late as the second reading of the legislation. If passed by parliament, it will become law without the comprehensive impact analysis and scrutiny typical for such significant regulatory change.

Observers argue the new regulation duplicates existing regulatory functions already managed by Kazakh state bodies and was proposed without the cooperation of the National Bank of Kazakhstan. The central bank has previously developed its own reform proposal that avoids introducing a monopolistic entity.

Opponents further contend that the regulation could cause “significant economic damage”. National Bank of Kazakhstan representatives and the payments industry have sounded alarm bells, but the issues have not been adequately addressed, the press release added.

The concerned fintech and payment companies want the legislation to be reconsidered. They are advocating for it to be sent back to the lower house of the legislature for a full regulatory impact analysis and thorough examination to ensure that it does not adversely affect industry or the economy.

Ilya Efimenko, commercial director of the payment organisation PayDala, said: “I appeal to the Senators, who need to know the true purpose of why the UAS has made a comeback in the bill.

“This is a re-emergence of the ‘Betting Accounting Center’ (BAC), a strikingly similar entity that was withdrawn before, and behind which, as the deputy from the Amanat party Elnur Beisenbayev said, are the powerful forces of ‘Old Kazakhstan.’

“Before our eyes, a monopolist, a private operator, is being created. The emergence of monopolies such as the UAS threatens the principles of a Fair Kazakhstan. Now everything is being done to break the financial system of Kazakhstan, recognized by experts as one of the best in Central Asia.”

The post Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation appeared first on European Gaming Industry News.

Asia

Groove joins SiGMA Asia panel on resilience of Asian iGaming licensing

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Groove will take part in a regulation-focused panel at SiGMA Summit Asia, with CEO Yahale Meltzer attending and Business Development Director Giusy Campo speaking on the session titled “Jurisdiction Jungle: Who Rules Asia’s iGaming Empire?”.

According to the company, the panel will examine whether Asian licensing regimes can hold up under enforcement, cross-border scrutiny, banking pressure and rising compliance requirements. Topics slated for discussion include audit readiness, payment disruption, tax enforcement, evolving AML expectations and geopolitical shifts.

Giusy Campo, Business Development Director at Groove, said: “The conversation in Asia has matured significantly. Operators are no longer asking just about content volume or time-to-market. They are asking about structural resilience: how a platform handles a studio API failure without impacting player experience, what the data sovereignty protocols are, and whether the compliance architecture is defensive or reactive|”

Campo added: “In a region where banking pressure and regulatory expectations shift rapidly, the platforms that survive will be the ones that built integrity into their stack from the first line of code, not the ones scrambling to patch it in later.” Meltzer said: “The ‘Jurisdiction Jungle’ is not a metaphor for growth; it is a reality for every operator trying to scale across Asia’s fragmented regulatory landscape.” He added: “The mistake some make is treating compliance as a hurdle to clear. We treat it as a design constraint from day one. If your architecture is not built to generate verifiable, immutable audit trails for every transaction, you are not actually ready for Asia’s top tier. Our presence at SiGMA Summit Asia is about having serious conversations with operators who understand that trade-off.”

Groove said it has published a White Paper on navigating the Asian iGaming market, available on its website, and positioned its SiGMA Summit Asia attendance as part of a broader push in Asia following recent expansion moves into LatAm and Africa.

The post Groove joins SiGMA Asia panel on resilience of Asian iGaming licensing appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BMM Testlabs to Exhibit at SiGMA Asia Summit 2026

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BMM Testlabs announced its participation in the SiGMA Asia Summit May 31-June 3 at the SMX Convention Center Manila.

Attendees can visit BMM Testlabs at Stand No. 2619 to learn how the Company supports suppliers, operators and regulators across regulated gaming markets worldwide through its comprehensive compliance and product certification services.

BMM will highlight its ability to test and certify gaming products to every regulator’s standard, anywhere in the world.

In the Philippines, BMM Testlabs is licensed to provide testing and certification services for slot machines, table games, electronic table games, iGaming, bingo, retail and online sports betting, poker and mobile gaming solutions.

BMM Testlabs’ Vice President, Business Development – Asia Jeffrey Fong said: “SiGMA Asia Summit continues to be an important event for the gaming industry across the Asia-Pacific region. We are proud to support suppliers, operators, and regulators with trusted compliance expertise that helps bring products to market efficiently and responsibly. Our global experience, combined with our strong regional knowledge, allows us to help our customers grow confidently in regulated gaming markets throughout Asia and beyond.”

BMM Testlabs continues to expand its support of regulated gaming markets worldwide through its global network of laboratories and technical experts, helping customers achieve faster market access while maintaining the highest standards of quality, security and regulatory compliance.

The post BMM Testlabs to Exhibit at SiGMA Asia Summit 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BetConstruct AI Showcases AI-Powered Solutions at G2E Asia 2026

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BetConstruct AI participates in G2E Asia 2026 (May 12–14, The Venetian Macao, Stands A1023 & A1029) — Asia’s most significant gathering for operators, innovators and industry decision-makers, and this year, the event puts AI and other emerging innovations at its centre.

The spotlight at the stands will be on the Best Sportsbook for the World Cup 2026: Special Bets, Powerfull and Bet on League form a ready-to-deploy tournament package that lets operators capture the full commercial weight of the world’s biggest sporting event — zero development cycles, zero platform risk.

For the World Cup activation – all at zero cost. New partners unlock a 50% platform setup discount applied immediately, plus 100% Core Suite Access — meaning the Sportsbook and the rest of BetConstruct AI’s offerings are completely free for the first 3 months (50% off for 4-12 months). Third-party tools come at 51% off for 3 months.

Layered on top at this event, the AI Suite — CRM AI, Umbrella AI, AI Game Recommendation System and Betting Mate — handles everything from churn prediction and risk management to real-time personalisation and conversational betting. Beyond all of this, we’re bringing the full picture: The Sportsbook Platform offers over 140,000 pre-match events and 12,000+ monthly esports live events, while the Casino Platform integrates 350+ providers via a unified aggregation API.

The Affiliate Ecosystem, with its Affigates sub-brand, offers 7000+ vetted affiliates and AI-based scoring, completing the acquisition side of the picture.

The post BetConstruct AI Showcases AI-Powered Solutions at G2E Asia 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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