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Singapore Gambling Regulatory Authority to Crack Down on Use of Crypto Assets
Singapore’s new gambling regulator, the Gambling Regulatory Authority (GRA), announced it has no plans to legalise the use of cryptocurrency within its land-based gaming industry as it continues to explore the use of crypto across video game and social gaming platforms.
In what appears to be a continuation of Singapore’s general opposition to the introduction of cryptocurrency across broader society, GRA General Counsel Albert Yeo told a regulatory gathering in Sydney last week that crypto was one of the key issues the regulator is currently examining – particularly as it applies to new technologies.
However, there are no plans to allow the use of cryptocurrencies within Singapore’s two integrated resorts – Marina Bay Sands and Resorts World Sentosa.
“I think for the casinos there is no real appetite,” Yeo said during the Regulating the Game conference. “It is a very volatile in terms of its revenue stream.
“Internally the idea is to just not allow it to begin with or to even allow it into the door. The moment you start even entertaining [the idea] you know it will be difficult to stop.
“I’m not sure if there is any legislative framework that would allow us to do it anyway but we are looking into it and seeing where it is creeping in and making sure it doesn’t invade the casinos in Singapore.”
Established last year to replace the former Casino Regulatory Authority (CRA), the new GRA – with a remit to oversee the entire gambling landscape in Singapore – is specifically designed with technology in mind. When it took charge on 1 August 2022, Singapore’s Ministry of Home Affairs said the GRA “allows the Government to more effectively stay ahead of technological and gambling trends, respond more adequately to emerging gambling products, and take a more holistic and coherent approach to gambling policies.”
According to Yeo, cryptocurrency “is one of the main things we are currently looking at” given the challenges regulators face in tracking blockchain transactions, although much of its attention is now focused on the online space – specifically the use of crypto in video or social gaming.
“We know it is a new space and we are engaging the developers themselves, trying to understand what the products mean,” Yeo said.
Pointing to one popular online product called “Axie Infinity” – a blockchain-based game in which players can trade NFTs and earn RAT (Rare Antiquities Token) currency – Yeo explained, “The thing we are grappling with is whether that is money, money equivalent or anything of value.
“Typically if it is in-game we won’t worry about it, but the trouble [with players earning cryptocurrency] is that it is very easy for them to just take it out and put it on exchanges.
“So we are engaging the developers – Singapore is trying to encourage game developers in Singapore but we are also looking at what is the future of cryptocurrency and where all these games are going. Do we have a good handle yet on where this is going?”
Singapore’s broader reluctance to regulate the trading in or use of cryptocurrencies currently extends to a ban on advertising by crypto exchanges, with the Monetary Authority of Singapore issuing a statement last November following the high-profile collapse of global exchange FTX in which it said, “The most important lesson from the FTX debacle is that dealing in any cryptocurrency, on any platform, is hazardous.
“Crypto exchanges can and do fail. Even if a crypto exchange is licensed in Singapore, it would be currently only regulated to address money-laundering risks, not to protect investors. This is similar to the approach currently taken in most jurisdictions.
“Further, even if a crypto exchange is well-managed, cryptocurrencies themselves are highly volatile and many of them have lost all value. The ongoing turmoil in the crypto industry serves as a reminder of the huge risks of dealing in cryptocurrencies.”
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ReferOn Unveils Model Context Protocol: The Next Step Toward True AI-Powered Affiliate Management
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ReferOn, a next-gen affiliate management system, announces the development of Model Context Protocol (MCP), a groundbreaking foundation designed to kickstart the era of AI in affiliate marketing.
What is Model Context Protocol (MCP)
MCP (Model Context Protocol) is an open standard that enables AI assistants to connect directly with ReferOn’s APIs, databases, and platform actions. Instead of adding cosmetic AI “innovations” on top of legacy systems, ReferOn is engineering the infrastructure that allows AI to operate where it delivers the most value and impact for users daily.
How MCP Enhances AI Integration in Affiliate Marketing
The development of MCP opens the door to freeing up affiliate managers to focus on strategy, relationship-building, and growth, instead of dealing with mundane and repetitive tasks. Imagine AI agents that will be able to create tracking links in seconds, set up reward plans on the fly, and detect anomalies in traffic data instantly. This is what “AI-ready” means — real groundwork being set up, not just hype.
The first step in this direction is ReferOn’s Global Search (Beta), a feature that creates a single entry point for data, actions, and insights. While it may look like a simple search bar, it bridges ReferOn’s core layer, raw data, and intelligent AI agents.
Real Impact of AI-Powered Affiliate Management
Alex Bukin, ReferOn’s General Manager, commented, “Strategy and real impact come before hype. MCP isn’t about chasing a wave, it’s about creating a foundation that keeps affiliate managers and operators ahead of the curve. By focusing on building the groundwork to support structured data and open standards, we’re making sure AI has real use cases, not just cosmetic add-ons. Our goal is to set the benchmark for innovation and lead the affiliate management ecosystem by shaping its future.”
About ReferOn
ReferOn is the state-of-the-art affiliate management system, tailored specifically to the needs of the gaming affiliate industry. Launched in February 2023, ReferOn offers a comprehensive suite
of tools and services designed to streamline and enhance the affiliate marketing experience, featuring transparent data reports and a range of management and reporting functionalities.
The post ReferOn Unveils Model Context Protocol: The Next Step Toward True AI-Powered Affiliate Management appeared first on European Gaming Industry News.
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SimplePlay Announces Strategic Partnership with Timeless Tech
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SimplePlay is delighted to announce its recent partnership with Timeless Tech, a leading game aggregator. This alliance will integrate SimplePlay’s suite of games and services into Timeless Tech’s powerful platform, significantly expanding the provider’s reach in key international markets.
As SimplePlay continues to establish itself as a comprehensive game provider, this collaboration will enhance its rich portfolio of premium games through Timeless Tech’s Game Aggregator API. This partnership aims to strengthen SimplePlay’s position and expand its reach in markets like Europe and Latin America.
“We’re delighted to welcome SimplePlay to our aggregator – a provider that represents creativity, reliability, and depth. Their combination of slots, crash, table, and fishing games perfectly complements our goal to deliver diverse, high-performing content to operators worldwide. This partnership highlights what Timeless Tech stands for: building meaningful alliances that empower growth, quality, and innovation.” –– Nicola Cainero, Chief Operating Officer, Timeless Tech
“The new partnership with Timeless Tech is definitely a win-win agreement that fosters mutual growth for both sides,” said Osman Walker, CSO of SimplePlay. “We look forward to bringing our premium gaming content to even more operators and players through Timeless Tech’s extensive network.”
With SimplePlay’s games and Timeless Tech’s distribution network, these two industry powerhouses are set to deliver top-tier game content to players around the world, driving mutual growth and success.
The post SimplePlay Announces Strategic Partnership with Timeless Tech appeared first on European Gaming Industry News.
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Lottomart to Welcome NetGaming’s Standout Slot Portfolio
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Lottomart has announced that they are partnering with NetGaming, bringing their fresh mix of creative, modern, and feature-rich slot content to their growing games catalogue.
Known for bold themes and polished presentation, NetGaming offers an exciting blend of classic concepts and inventive bonus mechanics.
As part of the upcoming rollout at Lottomart, players can look forward to a selection of NetGaming’s standout titles – including the mythological power of Zeus’s Thunderbolt 10000, the lively Irish-themed Shamrock Trio – Hold & Respin, the vibrant 3 Wild Jokers Carnival, the adventurous Pirate’s Fortune Gold – Hold & Respin, and the fiery island energy of Fireball Inferno Tiki. Together, these games highlight the studio’s range, from playful bonus rounds to high-impact visual designs.
Chris Ruddock, Commercial Director at Lottomart, commented: “NetGaming brings a distinctive visual style and a playful approach to game design that really stands out. Their content offers variety, strong themes, and accessible mechanics that fit well with what our players enjoy. We’re looking forward to seeing how their titles perform!”
Alfred Ballester, Business Development Director at NetGaming, said: “We at NetGaming are absolutely thrilled to be going live with Lottomart! Working with the Lottomart team throughout the integration has been an absolute pleasure. We’re super excited to launch our games with such an important and respected UK brand, and we honestly can’t wait to see Lottomart players diving into and enjoying the full NetGaming Games Catalogue!”
The post Lottomart to Welcome NetGaming’s Standout Slot Portfolio appeared first on European Gaming Industry News.
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