Compliance Updates
Ukrainian Parliament Passes Law Legalising Cryptocurrencies
A draft law legalising and regulating cryptocurrencies and other virtual assets like tokens in Ukraine has passed the parliament in the second reading on September 8. A total of 276 Ukrainian lawmakers voted for the bill.
Cryptocurrencies have been neither legal nor forbidden in Ukraine because there were no laws that defined them. Ukrainians could buy and exchange virtual currencies, but local courts could not protect them if something went wrong.
If signed by President Volodymyr Zelensky, the law will protect the owners of virtual assets and exchange platforms from fraud. It will also determine how Ukraine will regulate the cryptocurrency market in the future.
Cryptocurrency is hugely popular among Ukrainians — the daily turnover of virtual assets in the country accounts for $37,000, according to Mykhailo Fedorov, Ukraine’s Minister of Digital Transformation. If cryptocurrency becomes legal and therefore safer, more Ukrainians will invest in it, Fedorov said.
“Only a few countries in the world have legalized crypto assets — Germany, Luxembourg, Singapore. Ukraine will be one of them,” he added.
Recognising cryptocurrency is vital for the booming industry, experts said. “It will reduce stereotypical attitudes towards cryptocurrencies and will help them to become normal financial instruments,” according to Oleg Kurchenko, CEO of virtual asset exchange platform Binaryx.
However, experts are worried that too many rules could stifle innovation and put pressure on businesses. Some crypto investors could leave the country because they do not trust state initiatives, Kurchenko said.
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Australia
SkyCity Announces Renewal of Queenstown Casino Licence
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SkyCity Entertainment Group Limited confirmed that the New Zealand Gambling Commission has granted SkyCity Queenstown Limited with a renewal of its casino venue licence for a further 15 years from 7 December 2025, pursuant to section 134 of the Gambling Act 2003.
SkyCity Chief Executive Officer, Jason Walbridge, said: “We’re delighted with this outcome. We look forward to continuing to play our part in Queenstown’s fantastic range of entertainment for both locals and visitors.”
The post SkyCity Announces Renewal of Queenstown Casino Licence appeared first on European Gaming Industry News.
Betsson Group
Betsson Group Shortlisted at the Global Regulatory Awards 2025
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Betsson Group has been shortlisted for “Legal Team of the Year” at the upcoming Global Regulatory Awards 2025 (GRAs), while its General Counsel, Corinne Valletta, has been nominated for “Chief Compliance Officer of the Year.”
Organised by Vixio Regulatory Intelligence, the Global Regulatory Awards celebrate excellence across the compliance and responsible gambling sectors, recognising individuals and teams who continuously raise industry standards and champion best practices.
These accolades testify to Betsson’s commitment to raising standards in compliance to ensure a safe and stable business.
The post Betsson Group Shortlisted at the Global Regulatory Awards 2025 appeared first on European Gaming Industry News.
Andrew Rhodes
UK Gambling Commission Concludes Four-part Series on Illegal Online Gambling
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The UK Gambling Commission has published the fourth and final report in its series exploring the complex and evolving issue of illegal online gambling.
The series — launched earlier this year — set out to improve understanding of consumer engagement with illegal online gambling, the risks it poses and the actions being taken to disrupt it.
Over the past months, the Commission has published three reports examining:
Part 1: Consumer awareness, drivers and motivations
Part 2: Consumer engagement and trends
Part 3: Disruption of illegal online gambling
This report — “Estimating the size of the illegal online gambling market” — explores the challenges of quantifying an activity that is, by its nature, hidden.
Understanding the challenge
The report highlights that while measuring the scale of the illegal online gambling market is essential for effective enforcement and policy-making, doing so presents significant methodological challenges. Reliable data is limited, and assumptions are often required to fill gaps — meaning that confidence in any single estimate is inherently constrained.
The Commission draws parallels with other areas of illicit activity, such as the trade in illegal tobacco, where government departments face similar difficulties estimating financial impact.
Building on progress
Although no single estimate of market size has been published, the Commission’s work to date has built a stronger evidence base and clearer understanding of both consumer behaviour and illegal operator tactics.
The series has found that:
• consumer motivations to use illegal sites are varied — there is no single driver of engagement
• some consumers are unaware that they are gambling illegally, highlighting the need for greater public awareness
• not all activity in the illegal market represents a direct loss to the regulated sector, as some consumers are self-excluded or otherwise unable to gamble legally
• there is currently no evidence of sustained growth in engagement with illegal websites where data has been collected
• a range of disruption and enforcement tactics are being deployed, supported by cross-industry and international collaboration.
A shared responsibility
The Commission emphasises that tackling illegal gambling requires a coordinated response. Efforts to measure, monitor and disrupt the illegal market will depend on continued collaboration across government, industry, digital platforms and financial services.
Chief Executive, Andrew Rhodes said: “Illegal online gambling remains a serious threat to consumers and to the integrity of the regulated market.
“While measuring the full scale of the problem is complex, our understanding is growing — and so too is our ability to disrupt illegal operators.
“Our independent research has strengthened the evidence base, improved transparency, and underlined that progress depends on a collective effort across sectors.”
Next steps
Although this marks the end of the current series, the Commission will continue its programme of research, data collection and enforcement activity.
The post UK Gambling Commission Concludes Four-part Series on Illegal Online Gambling appeared first on European Gaming Industry News.
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