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    News Blog Bitcoin Casino Legal Status by Country

Bitcoin Casino Legal Status by Country

bitcoin casino legal

Since bitcoin made its mark on the online scene, individuals started looking for ways to multiply their bitcoins and make transactions which didn’t imply banks or financial institutions anymore. Whereas there are many countries which have already allowed the use and trade of cryptocurrencies, others have banned it completely.

There is no international legal law to regulate cryptocurrencies, so it is important to know whether your country accepts and taxes bitcoin. Even so, many bitcoin casino users have discovered alternative methods to visit bitcoin casino sites, including using VPN to hide their IP addresses.

Bitcoin gambling is one of the latest trends among online casino users. Since most countries allow some kind of online gaming solutions, players are fully embracing the possibility of betting on bitcoin or other cryptocurrencies, rather than on real money.

Since this trend has expanded so much in the past 2 years, certain governments are starting to work against accepting this anonymous payment method, due to various reasons. Governing bodies from countries all around the globe have already established regulations regarding bitcoin.

If you’re interested in opening a bitcoin casino, we’ve put together some information about each country’s regulatory frame regarding the acceptance of cryptocurrencies.

Country

Government position towards bitcoin

Current stance on bitcoin gaming

Legal status of online gambling

Argentina

Neutral

Service providers and merchants accept bitcoin for a variety of services and products. Online gambling is permitted, so bitcoin casinos are a good option.

Legal

Australia

Pro

Regulators are working towards creating regulatory frames to fully legalize altcoins. Online gambling is allowed, but operators mustn’t run their casinos inside the country.

Legal

Austria

Pro

Bitcoin is legal in the country and a subject of taxation. Online gambling is legal and heavily regulated by the government.

Legal

Bangladesh

Against

Local regulation is so harsh that anyone who trades altcoins in the country can serve up to twelve years in prison. Any transaction with bitcoin or any other cryptocurrency is a punishable offense.

Restricted

Belgium

Neutral

Investors who make transactions on altcoin markets are expected to pay 33% tax on revenue, even though cryptocurrencies are not regulated. Altcoins must be declared as income.

Legal

Bolivia

Against

Bolivia regulators have clearly stated that any non-governmental cryptocurrency is against the law. Gaming is unregulated in the country.

Unregulated

Brazil

Neutral

Large volume of altcoin trades, individuals are opening more cryptocurrency trading accounts than traditional brokerage accounts. Central Bank of Brazil is developing its own blockchain platform. 

Unregulated

Bulgaria

Neutral

Lack of regulation when it comes to cryptocurrencies, but individuals have to pay 10% for profit trading. The gambling market is regulated, operators inside the country run bitcoin casinos.

 

Canada

Pro

Cryptocurrencies are regulated and controlled, regulators focus on transparency and consumer protection. To open a legal gambling-related website, operators should obtain a license.

Legal

Chile

Neutral

Altcoins are not subject of regulation. The online gaming industry in Chile is also unregulated, but players can access international bitcoin casinos.

Unregulated

China

Against

Online gaming is not permitted in the country. Like so, bitcoin casinos can’t be opened within China, though players access foreign websites.

Restricted

Costa Rica

Neutral

Cryptocurrencies are not legal, nor illegal in the country. A few merchants accept altcoins as payment instruments. In Costa Rica, online casinos can be opened without a gaming license.

Unregulated

Croatia

Pro

Cryptocurrencies are legal in Croatia since 2013. Online gaming operators are required to obtain a gaming license.

Legal

Cyprus

Neutral

In Cyprus, bitcoins are not controlled nor regulated, so residents trade bitcoins without being backed by any legislation. Online sports betting is the only legal form of online gambling in Cyprus.

Sports betting only

Czech Republic

Neutral

Regulators have claimed that the government does not get involved in cryptocurrency trading. EU and EEA-based operators can apply for a gambling license here.

Legal

Denmark

Pro

Bitcoin is accepted and widely spread in Denmark. When it comes to any online gaming operations, operators are strictly required to obtain a gaming license.

Legal

Ecuador

Against

Cryptocurrencies are strictly forbidden in Ecuador, since they are perceived as a rival to the national currency. Online gaming is not regulated, so a bitcoin casino is not a valid option.

Restricted

Finland

Pro

Virtual currency transactions are permitted and taxed, and bitcoins are considered payment instruments. Online gaming is regulated, but all gambling operations are managed by state-run companies.

Legal

France

Neutral

Gambling in France is regulated, and online operators must obtain licenses to legally run mobile or online casinos. Virtual coin transactions are permitted and subject to regulation.

Legal

Germany

Neutral

Germany does not allow operators to start bitcoin or online casinos according to local regulations. Virtual coins are not regulated, not legal nor illegal.

Unregulated

Gibraltar

Pro

Gibraltar embraces innovation with a law specifically developed for ICOs. More than that, Gibraltar stands at the forefront of the online gaming system, being known as the top online gaming jurisdiction of choice for many casino operators.

Legal

Greece

Neutral

At this point in time, no specific regulation regarding bitcoin has been issued. Online gaming is regulated and licenses are issued for the operation of casinos.

Legal

Iceland

Pro

Altcoins were regulated in 2017, but no legislation for online gambling has been issued for opening bitcoin casinos within the country. Residents choose to gamble online at casinos based outside the country.

Unregulated

India

Neutral

Local authorities are still debating whether virtual coins should be regulated. At this time there are no laws specifically tailored to online casinos in India, but many players choose to access foreign sites.

Unregulated

Indonesia

Against

Since January 2018, bitcoin and all altcoins have been banned in the country as payment methods. Bitcoin trading is not prohibited, and both land-based and online casinos are prohibited.

Restricted

Ireland

Neutral

A blockchain working group is making efforts towards creating cohesive regulation for cryptocurrency trading and payments. The local gambling authority issues licenses for online operators who want to start an online casino.

Legal

Israel

Neutral

In Israel, bitcoin is considered a taxable asset. Residents need to pay a tax of 25% for bitcoin gains. More than that, traders of bitcoin are expected to pay 17% VAT. Israeli law is against online gambling activities.

Restricted

Italy

Neutral

Bitcoin can be accepted in Italian online casinos, since the government does not regulate the use of cryptocurrencies. Foreign and local online casino operators can get a gambling license in Italy.

Legal

Japan

Pro

Japan is considered one of the hubs for altcoin innovations. Bitcoin is recognized as payment instrument. However, the country has just recently started to open up to online gaming by recently passing bills for operators who are looking to run casinos within the country. Japanese players usually play at foreign bitcoin websites.

Soon to be legal

Lebanon

Against

Even though the government strongly discourages the use of virtual coins, there isn’t any law to deem them as illegal. Even so, all offshore gambling sites are blocked, and punters can only gamble in the local, land-based casino.

Restricted

Lithuania

Neutral

Lithuania does not regulate altcoins in any way, but they’re not considered illegal either. Online gambling is legal in the country; online licenses can be obtained since 2016.

Legal

Luxembourg

Pro

Luxembourg is highly involved in cryptocurrency trading within the country. The government is supporting altcoins, while BitLicenses are currently issued. Luxembourg is yet to develop its online gambling legal system.

Unregulated

Malaysia

Neutral

Cryptocurrencies are not recognized in Malaysia as legal means of payment. A decision regarding banning bitcoin is expected by the end of this year. Players can use overseas online gambling sites without restrictions.

Unregulated

Malta

Pro

Malta does not have any law that specifically regulates bitcoin, but it’s looking forward to promoting altcoins. Malta is also known as one of the go-to destinations for operators looking to start an online casino with an offshore license. Licensing prices are decent for the top-notch services provided.

Legal

New Zealand

Neutral

The government is not involved in cryptocurrency transactions. Local gambling legislation does not cover online gambling. However, it is not illegal for Kiwis to access offshore casinos, so they easily place bets at foreign bitcoin gaming sites.

Unregulated

Nigeria

Against

Banks have been banned from allowing bitcoin transactions, while altcoins are also not recognized as legal tender. Online gambling is prohibited in Nigeria, but many punters turn to European licensed websites.

Restricted

Norway

Pro

Bitcoins in Norway are recognized and taxed. Players usually access offshore gaming sites which accept Norwegians, since only 2 online casinos run in the country.

Legal

Philippines

Pro

Philippines remains the top online gaming destination for Asian players. The gaming authority provides a valuable license which is costly but considered one of the best worldwide. Virtual currencies are legal in the country.

Legal

Poland

Neutral

Bitcoin is not considered legal tender, but it’s not illegal either. Poland does not issue any online gaming licenses and online casinos are illegal, so players have few options when it comes to online betting within the country. Players tend to access casinos outside Poland.

Restricted

Portugal

Neutral

No specific regulation has been released in Portugal regarding altcoins. Online casinos are not yet available in the country, but the newly-established gaming authority is looking to grant the first online gaming licenses by the end of 2018.

Legal

Romania

Neutral

Romania does not have any regulation regarding bitcoin or other cryptocurrencies. Online casinos outside the country are banned for Romanian players, but operators can obtain a license within the country.

Legal

Russia

Neutral

Russian players are restricted from placing bets on all gambling sites. Whether they’re placing bets on bitcoin or real money, punters face financial penalties.

Restricted

Singapore

Neutral

The Monetary Authority of Singapore mentioned that they don’t get involved in bitcoin exchanges and transactions. Players from Singapore can only access online casinos outside the country.

Restricted

Slovakia

Neutral

The National Bank of Slovakia does not recognize bitcoin as a currency, so individuals trade it at their own risk, without being protected. The Finance Ministry has not yet granted licenses to online casino operators, except one. Players choose to bet at casinos outside the country, which include bitcoin casinos.

Legal

Slovenia

Neutral

Businesses who sell goods or services in bitcoin are subject of taxation in Slovenia, even though virtual coins are not seen as a currency nor an asset. Even though the government is looking to ban foreign casino websites, players still access them.

Unregulated

South Africa

Neutral

Bitcoin and other altcoins have no legal status or regulatory framework in the country. There are several operators who offer services to South African players from outside the country. There is no legislation governing online gaming activities within the country.

Unregulated

Spain

Pro

In Spain, bitcoin transactions are considered barter transactions, and subject to the same laws and taxation policy. Online gaming is regulated and taxed, and local players are not allowed to bet at online casinos which don’t hold a Spanish gaming license.

Legal

Sweden

Pro

Sweden is favorable for bitcoin-related businesses, which are also subject of taxation. Altcoins are treated as a currency inside the country. A new gambling act states that anyone who operates online casinos within Sweden must obtain a gaming license.

Legal

Switzerland

Pro

Operators who are looking to start an online casino in Switzerland can obtain a license to provide gaming services. Online casinos outside the country are banned. Bitcoin businesses in the country might need to obtain a banking license.

Legal

Thailand

Neutral

Bitcoin used to be banned in Thailand until 2016. Currently, bitcoin transactions are allowed, and all customers of bitcoin exchanges must report their trades. Nearly all forms of gambling are restricted within the country.

Restricted

Turkey

Pro

Bitcoin is not regulated in the country, but officials are saying that they’re looking to develop a Turkish cryptocoin. However, online gambling within the country is only offered by a state-owned sports betting company.

Legal

United Kingdom

Pro

The UK treats bitcoin as a foreign currency, including taxation policy. For profits and losses, individuals must pay a capital gains tax. Online gaming operators who want to start a bitcoin casino must obtain a license from the UK Gambling Commission.

Legal

United States

Pro

Bitcoin is taxed in the US as a property. Since legal online casinos are only available in a few locations, players resort to accessing gaming sites outside the country.

Legal in New Jersey, Nevada and some Native American reservations

United Arab Emirates

Pro

Since players are not allowed to access internet betting sites from the UAE, bitcoin casinos within the country are also not an option.

Restricted

Vietnam

Neutral

Bitcoin transactions are not restricted in the country, and bitcoin trading platforms are available within Vietnam. However, bitcoin can’t be used as a mean of payment. Online gaming in the country is mainly prohibited.

Restricted

 

Disclaimer: The information provided in this article has been published in July 2018. Updates that might arise regarding gaming law or bitcoin regulation following this date are not included in this article.



BY CASINOWEBSCRIPTS PUBLISHED 26 July 2018

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