Compliance Updates
ASA Bans 7 Crypto Ads in the UK
UK advertisements watchdog has banned seven cryptocurrency ads by categorising them as “red-alert priority”. The banned ads include ones by Coinbase and Papa Johns.
The Advertising Standards Authority (ASA) said its rulings follow proactive monitoring of cryptoasset ads, and form part of a wider project that will eventually shape specific guidance around advertising these products in 2022.
It added that consumers need to know about the risks of investing in cryptoassets and companies should make sure that their ads aren’t misleading or socially irresponsible, and don’t take advantage of consumers’ lack of awareness around these “complex and volatile products”.
A Twitter bio for a cryptocurrency trading platform Coinburp, cryptocurrency promotion by Papa John’s and a digital poster for online cryptocurrency exchange Payward were all banned, mainly for “irresponsibly taking advantage of consumers’ inexperience.”
The Coinburp ad also failed to illustrate the risk of the investment, ASA said.
A YouTube video promoting Exmo Exchange, an in-app ad for Luno Money, a paid-for Facebook ad for Coinbase Europe, along with an ad for eToro were also among the offenders.
“We’ll continue to review cryptoasset ads over the next few months, not just for cryptocurrencies but also for nonfunglible tokens and fan tokens, and this will feed into our future enforcement work and guidance,” the authority said.
“Cryptoassets are a red-alert priority issue for us, so we’re conducting proactive monitoring and interventions where we find issues,” said Miles Lockwood, director of complaints and investigations.
“Our rulings published today and over the next few weeks will shape follow-up enforcement work in the new year to bring all cryptoassets ads into line with our expectations and will form the basis of updated guidance.”
“We won’t hesitate to take action against ads that break our rules. We encourage anyone with any concerns about ads they’ve seen to get in touch.”
Elizabeth Rayment, director at Your Mind Media, said the ban of the crypto-related ads by the UK watchdog “comes as regulators move to set up rules around the crypto industry in general, be it trading or advertising to protect retail users”.
“While cryptocurrencies have gained significant popularity recently they are still unknown to many consumers. The understanding of cryptocurrencies, their financial impact and the risk they involve remains limited among the general public and as such, advertising to them can be seen as concerning.”
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EGT Digital is proud to announce that it is licensed to operate in Gibraltar. The company has obtained authorization from the Gibraltar Regulatory Authority, allowing it to provide all its core products – the X-Nave platform, the Gaming Aggregator, and the casino games, within the British Overseas Territory.
Securing the Gibraltar license marks a significant strategic milestone for EGT Digital, granting access to one of the most respected and tightly regulated jurisdictions in the global iGaming industry. This achievement reinforces the company’s commitment to compliance and operational excellence, while also enhancing its credibility and competitiveness in key regulated markets.
X-Nave, EGT Digital’s modular iGaming platform, includes four core components – Sportsbook, CRM Engine, Gaming Aggregator, and Payment Gateway – available as part of the turnkey solution or as standalone services.
The Gaming Aggregator offers access to over 24,000 titles from 300+ providers, while the company’s own portfolio features more than 140 in-house developed casino games, including the popular Bell Link, High Cash, Clover Chance, and the newest jackpot solution Gods & Kings Link.
EGT Digital’s slots currently have a presence in more than 70 markets globally and are recognized across the industry for their high quality and outstanding performance.
Tsvetomira Drumeva, Head of Sales at EGT Digital, commented: “Receiving the Gibraltar license is a key milestone for us. It strengthens our position as a trusted provider in regulated markets and opens new opportunities to collaborate with leading partners across the iGaming ecosystem.”
The post EGT Digital is a licensed iGaming provider for Gibraltar appeared first on European Gaming Industry News.
The Michigan Gaming Control Board (MGCB) has issued cease-and-desist orders to five illegal online gambling operators—BoVegas Casino, BUSR, Cherry Gold Casino, Lucky Legends, and Wager Attack Casino—after discovering they were targeting Michigan residents without proper licenses. These operators are violating Michigan’s Lawful Internet Gaming Act, the Michigan Gaming Control and Revenue Act, and the Michigan Penal Code.
“These illegal sites undermine the integrity of Michigan’s regulated gaming industry and put players at serious risk. We will not tolerate unlicensed gambling operations that exploit Michigan residents. Our top priority is to protect the public by enforcing the law and shutting down these illegal platforms,” said Henry Williams, Executive Director of the MGCB.
Details of the Crackdown
BoVegas Casino: Offers slots and table games while ignoring Michigan’s strict licensing requirements, leaving players vulnerable to fraud and unfair gaming.
BUSR: Markets itself as a sportsbook and casino but operates without the consumer protections required by Michigan law.
Cherry Gold Casino: Promotes a wide range of slots and table games but lacks Michigan licensure, putting players at risk.
Lucky Legends: Claims to offer a “VIP experience” with bonuses but bypasses state regulations designed to ensure fairness.
Wager Attack Casino: Combines sports betting and casino gaming without a Michigan license, exposing consumers to unregulated practices.
The MGCB’s investigations found that these sites have been accepting wagers and deposits from Michigan residents on sports events, slots, blackjack, and other casino games—all without the oversight and safeguards required by law. Players using these platforms face unreliable payouts, unfair gaming practices, and have no legal recourse in case of disputes.
“These illegal operations, whether offshore or operating without a Michigan license, exploit players and put them at risk. We will continue to take strong action to protect the integrity of Michigan’s gaming industry and to ensure that residents have access to safe, legal, and regulated gambling options,” Williams said.
The cease-and-desist orders demand that each operator immediately halt all gaming activities in Michigan. They have 14 days to comply or face further legal action from the MGCB in collaboration with the Michigan Department of Attorney General.
The post MGCB Issues Cease-and-Desist Orders to Five Illegal Online Gambling Operators appeared first on Gaming and Gambling Industry in the Americas.
The Swedish government has proposed a new expanded ban on gambling on credit.
By preventing gambling from being financed with credit, the government wants to reduce the risk of over-indebtedness and protect consumers from ending up in financial difficulties.
The government’s proposal means that licensees and gaming agents will not be allowed to allow or participate in the financing of gambling with credit. This means that the current credit ban will be expanded to include, among other things, that licensees and gaming agents will not be allowed to:
• Enable players to enter into credit agreements with other parties when purchasing games, for example by linking to credit providers in connection with online gaming.
• Accept gambling bets if they know that the player is financing the bet, or their gambling in general, with a credit.
• Accept credit card payments if it is immediately apparent at the time of purchase that the payment is a credit card payment. This should apply both online and in-store.
The new rules are proposed to come into force on April 1, 2026.
The post Swedish Government Proposes a New Ban on Gambling on Credit appeared first on European Gaming Industry News.
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