“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.”
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.
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Last modified: June 10, 2020 3:38 PM UTC