Bitcoin Gambling Site SatoshiBet Turns Back on United States Market

October 30, 2014 04:42 UTC

Due to fear and uncertainty of online gambling regulations in the United States, popular bitcoin gambling site SatoshiBet announced that they would be immediately closing their doors to customers in the United States. In a PSA on Reddit, SatoshiBet made their announcement and cited their reasons.

“Since SatoshiBet launched its casino in early 2013, Bitcoin gained an exponential amount of mainstream attention, of both users as lawmakers,” the bitcoin gambling site explained. “As a consequence we have decided, effective immediately, to close SatoshiBet.com to US players. All US-based IP’s are from this moment onwards unable to access the website and any of its services.”

Also read: Bitcoin Will Revolutionize Gambling

SatoshiBet claims that their legal counsel pushed them to block United States’s players. According to the site, the move is seen as on of the best ways to mitigate any legal liability for their site and their shareholders. Turning away from United States markets is not based on current regulations, but rather a preemptive measure in case the government decides to tighten regulations without warning.

“To be clear, we have not been in contact with any government institutions, this is solely a proactive measure as a reaction to the fast moving regulatory landscape of cryptocurrencies.”

SatoshiBet in Fear of BitLicense?

Even with BitLicense looming overhead, some companies are saying they will not operate in New York due to the risk of their company. The effects of BitLicense are still unknown, as legal regulation is still not implemented. Because of these fears, certain bitcoin users are considering utilizing the Tor anonymous browser to hide their location.

What do you think about SatoshiBet closing doors to Americans? Comment below!

Images from Shutterstock.

@thelivingaspect

Clay Gillespie a writer and reporter for many different platforms across the tech industry. He holds a B.S. in Public Relations from Ball State University, and freelances for different clients in technology and cryptocurrency. For more information, visit his personal website, claygillespie.com.

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