Singapore Bans Cryptocurrency Use in Casinos to Combat Money Laundering

Quick Summary:

Singapore cryptocurrency casino ban: In a recent legislative move, Singapore’s Parliament has amended the Casino Control Act to ban the use of cryptocurrency in casinos.

This significant change, reported by Bitcoinist, is aimed at addressing concerns over money laundering and criminal activity within the gambling sector.

Future Outlook: The new regulations are expected to enhance the integrity of Singapore’s casino sector and reinforce its reputation as a secure and well-regulated destination for tourists and investors.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaSingapore

Topics: SINGAPORE Latest News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-12 @ 08:30:31 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 22467738

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

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Year Established: 2020

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

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