Nationally regulated markets are also seemingly reluctant to deal with crypto. Probably due to laziness and a misconception that enforcing Anti Money Laundering (AML) policies is hard when dealing with crypto. Anyone with some blockchain knowledge will know that traceability is built into the network and open for everyone to see. They will have to catch up eventually, and until then, it is their loss.
Curaçao Crypto Gambling Licences
Curaçao has been issuing gaming licenses since 1996. But the situation is somewhat convoluted. On the Dutch-ruled island, four private companies have been issued something called a Master License. They can in turn issue online gambling licenses. The two most well-known and reliable are called Curaçao eGaming and Antillephone N.V.. These licensing bodies are far from the most reputable in the world, but at the moment they are the best we have.
Some of the many duties of gambling license issuers include:
- Providing protection for minors and vulnerable or exposed persons, as well as promoting responsible gambling in a safe environment.
- Protecting players' funds and ensuring that all deposits and withdrawals are safe and secure.
- Ensuring the integrity of the games through audits and independent testing to ensure they are fair and the outcomes are random.
- Ensuring players' rights by reviewing and investigating complaints from players.
- Monitoring the activities of license holders to ensure compliance.
- Monitoring activities to keep gambling free from criminal activities.
Change is coming
In 2020 the Dutch government decided to take some control back with the creation of the Curaçao Gaming Control Board (GCB). This new body is supposed to consolidate the process, but it seems to be moving slow. As of 2023, they have managed to launch a webpage. That is pretty much it.
Limitations and prohibited jurisdictions
Note that local laws may prohibit online gambling, and it is up to you to be aware of what regulations apply. Under a Curaçao license for instance, persons residing in the following countries are explicitly prohibited. Afghanistan, Australia, Belarus, Belgium, Côte d'Ivoire, Cuba, Curaçao, Czech Republic, Denmark, Democratic Republic of the Congo, France, Germany, Greece, Iran, Iraq, Italy, Liberia, Libya, Lithuania, Netherlands, North Korea, Ontario, Portugal, Serbia, Slovakia, South Sudan, Spain, Sudan, Syria, Switzerland, United Kingdom, United States, Zimbabwe.