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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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Make-A-Wish® International and 2TG Entertainment Partner to Bring Hope and Healing to the FaenoraVerse with “Tendybear”
Make-A-Wish® International, the world’s leading wish-granting organization, is excited to announce a special collaboration with 2TG Entertainment that brings the magic of wishes to life inside the nostalgic and innovative pixel art RPG, To The Grave: The Hunters of Faenora. Together, they are introducing Tendybear, a magical healer born from the wish of a child, whose presence in the FaenoraVerse symbolizes the power of hope, love, and resilience. Every Tendybear purchased will directly support Make-A-Wish, with 100% of proceeds helping grant life-changing wishes for children with critical illnesses around the world.
April Stallings, Charitable Gaming and Creators Community Manager at Make-A-Wish International, commented:
“Tendybear is a beautiful representation of the lasting impact of a wish. This collaboration allows players to not only experience a heartfelt story within the game but also contribute to granting more wishes for children who need hope and joy the most.”
Tendybear is a powerful support hero with extraordinary healing abilities. His story is woven into the FaenoraVerse as a magical guardian, brought to life through a wish that transcends worlds. He will be available for purchase and play in Fall 2025, coinciding with the beta launch of Hunters of Faenora, a high-stakes RPG featuring an innovative, sustainable, closed-loop game economy with optional web3 functionality.
Nathan Montgomery, CEO of 2TG Entertainment, commented:
“Tendybear isn’t just another hero in the FaenoraVerse – he represents something truly special, Make-A-Wish has an incredible mission and it’s an absolute honor to bring this collaboration to life. We’re thrilled to offer a unique way for our players to support such an impactful organization while experiencing a character that embodies healing, kindness and selflessness amidst the chaos. Now seems the perfect time to introduce Tendybear to the world.”
With only a limited number of Tendybear heroes available, players will have the chance to own a truly special and meaningful piece of the FaenoraVerse, while making a real-world difference for children with critical illnesses and their families around the globe.
The post Make-A-Wish® International and 2TG Entertainment Partner to Bring Hope and Healing to the FaenoraVerse with “Tendybear” appeared first on European Gaming Industry News.
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Trigger Xtreme Power: A 400% Deposit Bonus Plus 30 Free Spins Await on Thor Hammer Strike at SlotsCapital.lv
SlotsCapital.lv, launches thunderous new Norse-themed slot by Rival, Thor Hammer Strike, and all new players are invited to claim a god-sized 400% Deposit Bonus plus 30 FREE SPINS on the game throughout September 2025.
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The post Trigger Xtreme Power: A 400% Deposit Bonus Plus 30 Free Spins Await on Thor Hammer Strike at SlotsCapital.lv appeared first on European Gaming Industry News.
From September 16th to 18th, Boomerang Partners will participate in the SBC Summit in Lisbon. The company invites event participants to visit their booth F1 to learn about their product portfolio and competitive advantages, and participate in interactive activities and a raffle of exclusive sports items.
The Boomerang Partners booth will be decorated according to the ‘Boomerang Arena’ concept. This reflects the company’s focus on sports, which is confirmed by the metrics — in 2024, its affiliate program achieved a 5x increase in the online sports betting segment and a 194% YoY increase in sports traffic. Additionally, Boomerang is the Official Regional Partner of AC Milan.
The Boomerang Partners booth will feature a photo zone with a memorabilia gallery of sports items belonged to star athletes. On the second day of the SBC Summit in Lisbon, September 17th, visitors can participate in an online raffle for these items.
Rules for participation:
- Take a photo of the photo zone at the Boomerang booth on September 16th or 17th (before 4:00 PM).
- Post the photo on your Instagram stories tagging – @boomerang.partners or LinkedIn – @boomerangpartners.
The results will be announced on September 17th at 4:00 PM at the Boomerang Partners booth F1 and on the company’s social networks. On September 18th, the winner must return to the booth and choose one of the items as a prize. These include:
- Signed Rafael Nadal Framed Babolat Racket – Wimbledon Champion 2008
- Signed Cristiano Ronaldo Framed Football – 5 x Champions League Winner
- Signed Tyson Fury Glove Framed Dome – Heavyweight Boxing Icon
- Fernando Alonso Signed Aston Martin 2023 1:2 Mini Helmet – Two-time Formula One World Drivers’ Championship Winner
Visitors to the SBC Summit are invited to stop by the Boomerang booth F1 to enter the raffle of unique artifacts from sports legends and experience the epic show.
About Boomerang
Boomerang Partners is a rapidly growing global brand offering a wide range of services. Boomerang is the Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards — a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Boomerang launched six new products in 2024, contributing to a nearly 1.5-fold increase in product users.
Boomerang’s portfolio contains 18+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.
The post Boomerang Partners will hold a raffle for unique sports items at the SBC Summit 2025 appeared first on European Gaming Industry News.
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