Ukraine Detains Online Casino Director Over Alleged Russian Ties
Ukraine’s State Bureau of Investigation (SBI) has detained the director of Pin-Up, a popular online casino, citing allegations of Russian ownership and operations in Russia, the agency announced on 14 February.
Investigations revealed that Pin-Up’s beneficial owners were Russian citizens who allegedly gathered sensitive data, including information about Ukrainian military personnel. Ukrainian law prohibits companies with Russian ties from operating in the country and mandates sanctions or asset confiscation.
The SBI reported that a Pin-Up associate financed organisations aiding Russian veterans. In May, over $62.5 million of the casino’s assets were seized by Ukrainian authorities.
The case adds to growing scrutiny of Ukraine’s gambling sector, which was legalised in 2020 after a decade-long ban. Public concerns about gambling’s impact on soldiers led to President Volodymyr Zelensky banning online gambling for military personnel in 2024 under martial law. Investigations are ongoing.
Dutch Regulator Warns Against Raising Online Gambling Age Limit
Michael Groothuizen, chairman of the Dutch gambling regulator Kansspelautoriteit (KSA), has urged caution over proposals to raise the legal age for online slots from 18 to 21. The initiative, suggested by State Secretary for Legal Protection Teun Struycken, also includes universal deposit limits to reduce gambling harm.
Groothuizen warned that increasing the age limit could push younger players to unregulated markets lacking protective measures like deposit limits and responsible gambling tools.
Recent figures revealed a concerning drop in channelling to the legal market, with just 50% of gross gaming results coming from licensed operators. Groothuizen emphasised the importance of maintaining a healthy legal market to combat illegal alternatives, highlighting the need for effective legislation and collaboration with payment providers to disrupt illicit platforms.
While supporting measures to protect players, Groothuizen cautioned against unintended consequences that could drive younger gamblers toward riskier, unregulated options.
Japan Considers Firewall to Block Illegal Online Casinos
Japan’s Ministry of Internal Affairs is exploring measures to curb the rising use of illegal online casinos, potentially implementing a national firewall. The move comes as access to such sites has surged, with a reported 120-fold increase over three years, despite Japan’s strict prohibition of online gambling.
Currently, the country only permits five forms of gambling, excluding casinos. However, foreign-hosted online platforms, like Vera&John, target Japanese speakers, exploiting a legal grey area. Critics argue such platforms mislead users into believing their services are legal.
Authorities are concerned about the societal impact, including rising gambling addiction and related crimes. In 2024, online casino-related incidents doubled from the previous year. Officials must now assess the feasibility and cost of enforcing a ban, though challenges in combating illicit platforms remain significant.
The proposed firewall reflects Japan’s commitment to mitigating risks from illegal gambling and protecting vulnerable populations.
Illinois Lawmakers Revive Push for Online Casino Gaming
Illinois legislators have reintroduced companion bills to legalise online casino gaming in the state. Senator Cristina Castro and Representative Edgar Gonzalez filed the Internet Gaming Act as SB 1963 and HB 3080, respectively. The proposals aim to expand Illinois’ gambling sector under the oversight of the Illinois Gaming Board.
Key updates include increasing the tax rate on adjusted gross revenue from 15% to 25% and requiring an initial licensing fee of $250,000. Operators could host up to three branded internet gaming platforms.
Illinois is already a leader in sports betting and video gaming terminals (VGTs), and in 2024, it generated $884.2 million from VGTs alone. However, concerns persist among VGT stakeholders over potential revenue impacts.
The bills include provisions for workforce protection, diversity, and multi-state gaming agreements. Illinois would solidify its position as a gambling industry hub if enacted, embracing innovation and regulatory oversight.
North Macedonia Targets Illegal Online Gambling with New Law
North Macedonia is set to intensify its crackdown on illegal online gambling platforms with the imminent approval of the Law on Electronic Communications. According to VMRO-DPMNE MP Brane Petrushevski, the legislation, expected to pass within two weeks, will empower the Agency for Electronic Communications (AKE) to block access to unregulated platforms through local internet operators.
Petrushevski emphasised the dynamic nature of illegal gambling, acknowledging that the exact number of platforms remains unclear. However, he assured that authorities would identify and shut them down systematically.
The parliamentary majority highlighted the harm caused by these unregulated platforms, including tax evasion, damage to families, and significant impacts on young people. The government’s effort represents a decisive move to address these issues and bring order to the digital gambling sector.
“This war will have serious effects,” Petrushevski stated, as North Macedonia moves to strengthen regulation and protect its citizens.
India Considers Federal Online Gambling Law Amid Rapid Sector Growth
India is exploring a new federal law to regulate online gambling and gaming as the Ministry of Home Affairs (MHA) investigates the need for comprehensive oversight. The Indian Cyber Crime Coordination Centre (I4C) has been tasked with preparing a report on the sector following a high-level meeting with government and intelligence officials.
The initiative comes after criticism of the 2023 self-regulatory framework for skill-based gaming, which some argue left regulatory gaps. Concerns include offshore platforms manipulating outcomes and celebrities promoting illegal gambling.
India’s current gaming laws date back to 1867, banning games of chance while allowing skill-based games like Poker and Chess. If new regulations include sports betting and iGaming, India could become a massive global market, particularly in Cricket betting.
However, challenges remain, including high taxes that hinder the sector’s growth. A decision will follow the I4C’s report on necessary reforms.
CB Expands Initiative for DLT-Based Central Bank Settlements
The European Central Bank (ECB) is advancing its efforts to integrate distributed ledger technology (DLT) into central bank money settlements. A two-track approach has been approved by the ECB Governing Council to enhance market infrastructure.
In the short term, the Eurosystem will develop a platform that links DLT-based transactions with its existing TARGET Services, with a timeline to be announced. Long-term plans include creating an integrated solution to settle international DLT-based transactions, such as foreign exchange settlements.
“We are embracing innovation without compromising safety and stability,” said ECB Executive Board member Piero Cipollone. The initiative aims to improve European financial market efficiency and supports a harmonised digital capital markets union.
Between May and November 2024, the ECB conducted over 50 trials involving 64 stakeholders, exploring DLT’s potential for wholesale central bank money settlements. The project aligns with the Eurosystem’s commitment to innovation and collaboration.
PayPal Plans to Expand Stablecoin Use for B2B Transactions
PayPal, under its new CEO Alex Chriss, announced plans to expand the use of its stablecoin, PYUSD, for business-to-business (B2B) transactions during its first investor day. While PYUSD has primarily been utilized within the crypto ecosystem, the company intends to promote broader applications, including cross-border payments that avoid foreign exchange fees.
In 2025, PayPal plans to encourage its 20 million merchants to use its Bill Pay service alongside payment solutions, creating a seamless ecosystem for vendors. Additionally, it will enable mass payouts via PYUSD on its Hyperwallet platform, targeting contract workers and freelancers.
PayPal was among the first financial firms to support retail cryptocurrency holdings, maintaining its commitment to innovation. Chriss emphasised breaking down barriers between PayPal’s offerings, positioning PYUSD as a critical tool in this strategy.
With PYUSD’s market capitalisation exceeding $700 million, PayPal’s integration of stablecoins is set to enhance efficiency and trust in digital payments, supporting the company’s efforts to lead in financial technology.
Rezolve Ai Launches $1 Billion Bitcoin Treasury for Crypto Payments Platform
AI-powered commerce solutions company Rezolve Ai has announced a $1 billion bitcoin treasury to support its upcoming cryptocurrency payments platform. The initiative begins with a $100 million investment and aims to integrate AI, blockchain, and crypto into global commerce.
Partnering with Tether, Rezolve’s platform will allow consumers to use Bitcoin, USDT, and other digital assets at points of sale, offering retailers benefits like zero merchant fees, instant crypto-to-fiat conversions, and AI-driven transaction insights.
CEO Daniel Wager emphasised the treasury’s role in bridging traditional commerce with the digital asset revolution, promoting mainstream crypto adoption worldwide.
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