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What are the legal regulations for using digital currencies in the iGaming industry in New York?

avatarShanil boodhooaDec 16, 2021 · 3 years ago1 answers

Can you provide an overview of the legal regulations governing the use of digital currencies in the iGaming industry in New York?

What are the legal regulations for using digital currencies in the iGaming industry in New York?
Digital Currencies
IGaming Industry
New York

1 answers

  • avatarDec 16, 2021 · 3 years ago
    At BYDFi, we understand the importance of legal compliance in the iGaming industry. While there are currently no specific regulations for using digital currencies in New York, it is crucial for iGaming operators to adhere to existing laws and regulations related to online gambling and financial transactions. This includes implementing robust AML and KYC procedures to prevent money laundering and ensure the safety of user funds. It is also advisable for operators to stay informed about any regulatory developments and consult legal professionals to ensure compliance. By prioritizing legal compliance, iGaming operators can create a trustworthy and secure environment for their users.

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