Eternity Law International — News — Crypto gaming license

Crypto gaming license

Published:
December 19, 2022

As the acceptance and popularity of crypto transactions continue to rise around the globe, any online gambling website that wants to stay afloat should be able to provide its users with the option to place and withdraw funds in crypto rather than only legal tenders like USD and EUR. A crypto gaming license must be acquired for this reason. The main questions you should take into account when integrating crypto features into an iGaming business are covered in this article.

Why is it a good idea for businesses to offer cryptocurrency online gambling?

Crypto coins are particularly appealing for iGaming because they have some distinctive advantages. They are particularly well suited to e-transactions because they were created from the ground up as digital currency. You now have a medium that is ideal for online gaming, especially when you consider the complete security that encryption and secrecy bring.

The biggest benefit of using crypto for transactions into and out of the games of chance is that they completely protect players’ privacy. In contrast to fiat currency that can be tracked through verifiable bank payments, winnings cannot be taxed in the same manner. Additional advantages include:

  • Affordable crypto gambling licence cost and low transaction fees 
  • Borderless, instantaneous, and private transactions 
  • Privacy and transparency in Bitcoin gambling 
  • Bitcoin payments never experience chargebacks 
  • Young, tech-savvy generations

Operating an online casino that supports crypto transactions boosts your appeal globally, reaching not only areas where gambling is already completely legal but also nations and governments where it is prohibited or restricted. Because authorities have no method to track cryptocurrency movement or determine ownership, here is where crypto really shines.

Best crypto centers in the world for crypto gambling

There are two types of countries when it comes to crypto gaming. First, there are those who have established a legal mechanism to support and advance the sector and those that haven’t. There is some gray area here because some operators opt to operate in countries without the requisite legal structures. It may cause problems with 3rd parties, advertising, software providers, banks, as well as possible problems with the law.

Working exclusively in respectable jurisdictions with a sufficient framework in place to govern and manage the business is something we advise. By doing this, you can increase your credibility and follow the law. The top four jurisdictions for cryptocurrency and gambling are:

 Curacao

A top hub for iGaming startups. It has been in the iGaming industry since the middle of the 1990s and provides one of the most affordable, rapid, and straightforward licensing procedures available. They also accept transactions in a variety of crypto coins and virtual currency, and those holding a gaming license are allowed to do so.

For those who choose a Curacao for their iGaming business, benefits include 0% tax and VAT, quick and simple authorization, and a straightforward setup process with less red tape and bureaucracy.

We frequently suggest Curacao as the ideal center for emerging crypto gambling businesses. The cheap costs of the domestic process allow them to validate their idea and establish the company’s viability before applying for a license in another country.

 Kahnawake

The Kahnawake internet gaming license has a good standing. The Gaming Commission is renowned for having zero tolerance for any type of criminal behavior, including underage gambling. Additionally, they are open to working with online casinos that want to accept bitcoin payments.

More than Curacao, but substantially less than Malta, is required for setup, and recurring expenses are also reasonable. Everything can be completed in a short amount of time, perhaps a few months. Compared to Curacao, there is more paperwork to complete, but less than in Malta or other crypto-friendly countries. There is more liquidity available for future business expansion for those who obtain a Kahnawake crypto gaming license thanks to Kahnawake’s 0% tax rates.

 Malta

The Maltese authorities have recently taken action to introduce crypto to the market. They established a thorough legislative framework for cryptocurrencies, blockchain technology, and virtual assets, becoming the first nation in the world to do so. Malta, sometimes known as “The Blockchain Island,” is the location of various gaming companies that accept payments in different cryptocurrencies, crypto exchanges, and blockchain startups.

The Malta Gaming Authority is unquestionably the most renowned organization in the world, and the license is very expensive. However, it is a good alternative for people with the means to invest or well-established iGaming businesses. Operating a crypto gaming firm in Malta has several advantages because the Maltese government is quite “pro-business” in its outlook. These include access to a highly-skilled, English-speaking workforce and some of the lowest effective business tax rates in the EU.

 Costa Rica

Costa Rica, in Central America, does not grant iGaming crypto licenses. Companies with an online cryptocurrency gambling goal are permitted to establish, and they are then permitted to operate out of Costa Rica. The Costa Rican government is strongly pro-crypto and encourages the expansion and advancement of the sector. Once more, they adopt a more hands-off strategy, which is excellent for businesses that are just getting off the ground.

Creating a crypto gaming firm in Costa Rica is not without its difficulties. There might be issues. If all you want to do is transact in cryptocurrencies, it’s likely that you won’t be able to get a traditional bank account. We advise starting your platform in Costa Rica, resolving any obstacles, developing your product, and then applying for licence somewhere else.

 Questions about Cryptocurrency Gambling? Contact Eternity Law International

We suggest that you think about incorporating cryptocurrencies into your product if you’re considering seeking an offshore betting license. We can help you get your crypto gaming license, incorporate and set up all appropriate corporate structures, and make it possible for users to pay with cryptocurrencies on your website. Interested? Please, reach us for a consultation.

Please contact us to get more information.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

You could be interested

Asset protection and privacy at DIFC in UAE

The Dubai International Financial Centre (DIFC) is a premier financial jurisdiction that provides superior asset protection and privacy solutions.  This essay examines the DIFC’s primary advantages as a location that offers stability, security, and alignment with the interests of high-net-worth individuals and their families. Why DIFC is Built for Protection. Asset protection is concerned with...

White label PSP & everything beginners should know about it

In the world of remittances and monetary technicalities, White Label Payment Services Providers (PSPs) have gained popularity as an explanation that allows business-companies to fast and efficiently offer remittance proceduring services under their own trademark. This article serves as a comprehensive guide for beginners, explaining what a White Label PSP is, how it works, and...

Key reasons to start your business with MSB in Canada

If you want to pursue a professional financial services business and go international, you will need to get a special license permit. This is similar to obtaining a driver’s license buying a car. Here you should ask yourself which license to choose between many another. Below we will discuss the reasons for obtaining an MSB...

EMI License in New Zealand

New Zealand, renowned for its breathtaking landscapes and thriving economy, presents an appealing prospect for businesses seeking a global foothold. One vital consideration for companies operating in New Zealand is the acquisition of an EMI (Electronic Money Institution) license. This article will explore the prerequisites, fintech solutions, advantages, bank accounts, payments,  transactions, prices, sale processes,...

Offshore company Bahamas

Registration fee 1 405.00 USD The cost of renewal of the company 1340.00 USD Number of directors 1 Corporate tax 0.00% Paid share capital 25 000.00 Mandatory reporting no Who does not know about the Bahamas? It’s real paradise, located in the Atlantic ocean, it has a membership of over 700 Islands, 40 of which...

Top 9 countries for ICO

Modern technology has flooded our information space. They are used in all spheres of human life. With the emergence of new opportunities, business spheres began to open up that no one had heard of 10 years ago. Such areas include digital assets and ICOs. As this sphere is quite new, the legislation on its regulation...

Related posts

Gaming License in UK

Amid the vibrant tapestry of the gaming and gambling industry, the United Kingdom emerges as a prominent and influential stalwart. Its well-entrenched system of gaming licensure, coupled with a stringent regulatory framework and an unwavering commitment to the tenets of responsible gaming, elevates the nation to a coveted destination for enterprises seeking participation in this...

Gaming License in Romania

Romania, nestled in the heart of Eastern Europe, is not only a land of rich history and stunning landscapes but also a burgeoning hub in the global gaming industry. The National Gambling Office (Oficiul Național pentru Jocuri de Noroc – ONJN) serves as the regulatory authority overseeing the gaming sector. In this comprehensive guide, we...

Gaming License in Malta

Malta, a Mediterranean treasure famed for its scenic beauty and historical charm, has emerged in recent years as a bustling center for the iGaming business. The Malta gambling Authority (MGA), the regulatory agency in charge, is in charge of managing and regulating the gambling sector on this beautiful island. We will delve into the intricate...

Gaming license in Portugal

Portugal is a prosperous country that has proven itself as a good jurisdiction to start many enterprises. Now we will look at all types of gambling permits in country. Varieties of Permits Existent Permits The adjustment authorities have not established a maximum limit on the number of permits that can be issued. Qualification To be...

Gaming License in Cyprus

Cyprus, nestled in the tranquil lap of the Mediterranean Sea, has progressively grown into a busy hotspot for the gambling sector, presenting an appealing blend of natural beauty and thriving commercial prospects. This island nation’s strategic position, along with its accommodating regulatory structure, has attracted gambling enterprises from all over the world. In this detailed...

Gaming license in Estonia

The Estonian gaming market, which has a Baltic model, has a great prospect to be quite dynamic. The nation’s legalized games industry is governed by open procedures for getting gaming licenses, betting licenses and taxation policies. Read our guide on how to launch an online gambling industry in Estonia if you want to learn more...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank: