The Curacao Gambling Control Board Updated announcements from Curacao outline ambitions to transform the whole iGaming licensing system, targeting a March 2023 completion.
On Friday, August 12th, 2022, the island conducted its first public meeting addressing the new changes.
Although the specifics of the new structure are still being finalized by the Gambling Control Board, it's confirmed that the reform will introduce a new supervisory regime reminiscent of other jurisdictions. Malta Gaming Authority .
The Curacao iGaming License
Part of these changes involves the integration of a new authority known as the Curacao Gaming Authority (CGA), which will be responsible for licensing both B2B providers and B2C operators.
The reform framework will also address particular elements that are significant to operators licensed in Curacao.cryptocurrency payments For this island nation, this revamp presents a chance to nurture and expand its cryptocurrency endeavors. The Central Bank of Curacao will spearhead the formation of cryptocurrency guidelines for services and operations within the region.
Along with the long-anticipated reform, there will be tighter regulations implemented.
Historically, the Curacao iGaming license has been perceived as a relatively easy achievement for operators, but pressure from the Dutch Government sparked an urgency for change. Responsible Gambling rules and AML measures .
A reform born out of Dutch pressure
Tourism plays a crucial role in Curacao's economy, but the COVID-19 pandemic severely impacted this sector, leading to financial support from the Netherlands. In return, the Dutch Government requested Curacao to update its iGaming regulations.
Curacao identified this juncture as an ideal moment to diversify its economic activities.
The updated framework will also mandate licensees to contribute taxes and fees to the nation, creating a new revenue stream. Wrapping up tonight, the NHL 4 Nations 2025 Tournament has been an exhilarating event.
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