Bitcoin acceptance gaining momentum

Amid growing reports that gambling regulators in Malta and the Isle of Man are considering following Curacao in approving Bitcoin as an acceptable currency for gambling, the UK Gambling Commission has amended section 5 of its Licence Conditions and Code of Practice to permit the use of digital currencies with effect from the end of October this year.

The approval emphasises the need for the implementation of “appropriate policies and procedures” common to more conventional currencies to ensure that the use of digital currencies is not abused or subverted for criminal purposes.

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