Bitcoin is still an argumentative issue for law enforcers and regulators from all over the world and the United Kingdom is no exception. Is Bitcoin casino legal in UK? While there are countries like Thailand, Russia, Germany, and others, which have already stated their stand about this digital currency, the UK is still on the process of considering if Bitcoin should be legalized or not. This makes regulation of Bitcoin-based industries like Bitcoin Casinos unclear.
There are a few significant steps from the UK policy makers about this subject. In the most recent Bitcoin Casino Regulation News, it was suggested that businesses built on Bitcoins are not required to register with the legal regulators. This will be the case while they are still on the process of considering their regulatory stand about this digital currency. In addition, a current message from the UK advised that Bitcoins will not be treated as money, but as ‘single-purposed vouchers’ that could carry a value added tax; not to mention, the growing abundance of all sorts of Bitcoin casino scam.
From the time being, Bitcoin Casinos based in the UK are still permitted to operate and provide casino gaming experience to the Bitcoin gamers worldwide. On the other hand, UK-based Bitcoin players are allowed to play on any free Bitcoin casino gambling sites. However, this is only until a final decision of Bitcoin’s legality standing in the UK is made. Hopefully, if a positive response to using Bitcoins as payment method is implemented, Bitcoin Casinos will be required to pursue regulations or licenses from regulatory bodies. Conversely, the use of Bitcoins in the state will be discouraged or even restricted.
As the discussion about Bitcoins in the UK continues, there are more important aspects to behold on Bitcoin Casino Regulation News. Therefore, while Bitcoin remains a mostly unregulated digital currency at the moment, it is smarter to capitalize the time and get the most of convenience and advantages that Bitcoin Casinos provide.