Casino & Slots
BINANCE UNDER INVESTIGATION IN INDIA & EMBROILED IN CONTROVERSY IN MALTA
Staying Legit
BINANCE UNDER INVESTIGATION IN INDIA & EMBROILED IN CONTROVERSY IN MALTA
Photo by rupixen.com on Unsplash
Binance Holdings is being investigated by authorities in India over potential money laundering offences.
According to BNN Bloomberg, the country’s anti-money laundering agency is investigating whether Binance Holdings was involved with betting apps run by Chinese operators.
Specifically, it has been alleged that the illegal Chinese operators have been laundering money through the WazirX cryptocurrency exchange, which Binance acquired in 2019. It is believed the Chinese apps have collected over 10 billion rupees (approx. US$143M) over the past ten months.
Indian authorities had reportedly already issued a show cause notice to WazirX over a possible breach of foreign exchange management regulations, in transactions worth 29.9 billion rupees. An investigation apparently also found that Binance had not been collecting the necessary KYC documents during most of the transactions.
The Indian Enforcement Directorate has now summoned Binance executives for questioning.
Meanwhile, in Malta…
Meanwhile, in Europe, Maltese authorities have been left red faced after accusing Binance’s Blockchain Charity Foundation of failing to submit accounts, and then “finding” them (presumably down the back of a sofa).
The debacle started when a local charity accused Binance of failing to honour its donation pledges. According to a 26 July Times of Malta report, The Malta Community Chest Fund was taking legal action in an attempt to enforce cryptocurrency donation pledges made by the Blockchain Charity Foundation. Apparently, the pledged donations had grown in value from a “couple of hundred thousand euros to €7 million”, and were earmarked to help cancer patients.
However, with the collapse of Malta’s blockchain dreams, Binance never gained a cryptocurrency exchange license in the country, and along with other companies, fled the island. It is now attempting to liquidate its charity foundation in the country – without, allegedly, honouring its pledges.
During the drama, it also emerged that the commissioner for voluntary organisations was threatening legal action against Binance, over its failure to file accounts with the watchdog. Indeed, a letter, sent on 23 July, accused the foundation of ignoring multiple reminders to file accounts for 2018, 2019, and 2020.
However, on 27 July, the Times of Malta reported that the office of the commissioner had “found” accounts filed by Binance’s Blockchain Charity Foundation, and that legal action was no longer being pursued.
And, if the entire saga didn’t seem farcical enough, it has also emerged that one of the members of the Blockchain Charity Foundation’s senior advisory board is none other than the former President of Malta, Coleiro Preca.
Co-founder and Chief Editor of AYO.NEWS: Coming from an art and design background, Oliver has a passion for video games and esports, and has several years of experience working at the heart of the iGaming and sports betting industry in Malta.

Photo by Javier Martínez on Unsplash
Entain, the global sports betting and gaming entertainment operator, is extending the scope of its Safe Play partnerships into interactive entertainment.
Through its not-for-profit Entain Foundation, the Group says it is planning to build on work initiated with partners in the US to help video gamers and esports players in the UK and Europe who are at potential risk of harm.
In the UK, Entain, in partnership with Game Quitters, will be launching the Mind Your Game initiative. Developed with additional support from Kindbridge, the project will include a social media educational initiative to raise awareness of potential addiction to video games.
Entain will also be collaborating with EPIC Risk Management and the Counter-Strike Professional Players Association to provide education and support for people at risk of online addiction and gaming disorder.
Grainne Hurst, Director of Safer Gaming and Regulation at Entain said: “Our business is all about understanding and meeting the needs of customers, which means offering the most entertaining experiences whilst doing everything we can to protect them. At the core of our approach to sustainability is our belief that delivering the highest possible levels of player safety and protection is the best way to guarantee our long-term success.”
The initiatives are in line with Entain’s Sustainability Charter, which launched last year, and includes a commitment to invest GBP£100M in the Foundation by 2025 to include educational and support projects.
Advising Entain is Dr Mark Griffiths, a Distinguished Professor of Behavioural Addiction and Psychology at the University of Nottingham. Dr Griffiths has studied addictive behaviour for more than three decades, and was part of the team whose work prompted the World Health Organisation (WHO) to recognise Gaming Disorder as a mental health condition in June 2018.
Dr Griffiths, along with academics from Harvard Medical Faculty School of Addiction, are currently working with Entain on a five-year research project tasked with improving the understanding of addictive behaviours. They are also part of a panel advising Entain on its pioneering approach to player protection, ARC (Advanced Responsibility and Care).
Malta-based slot supplier Wazdan has seen 30 of its titles certified for the Belarusian market.
The provider’s complete collection of Hold the Jackpot games has been certified, including latest releases Midnight in Tokyo and Fortune Reels. Belarusian players will also be able to play such popular hits as 9 Lions, Larry the Leprechaun, Telly Reels™, Choco Reels™, and Black Horse™ Deluxe.
Andrzej Hyla, Head of Sales at Wazdan, said: “We pride ourselves on our approach to regulated markets and we’re very excited to have a considerable array of games certified for Belarus. From our sought-after Hold the Jackpot games to top-performing staples, we’re very pleased with what we can bring to players in Belarus and look forward to making big strides in the market.”
Over the last twelve months, Wazdan has entered several new regulated markets, including Switzerland, Colombia, Spain, Portugal, Denmark, Italy, and New Jersey.
Staying with Belarus, earlier this month Betsson entered the country with the launch of Europebet.by and the opening of a new office in Minsk.
Almaty, Kazakhstan. Image by seojob from Pixabay
Just days after Slovakia blocked Twitch for illegal gambling content, Kazakhstan has cut off access to LinkedIn for similar reasons.
The Kazakhstani government has accused the Microsoft subsidiary of displaying online casino adverts, which are illegal in the country. Furthermore, the Kazakhstani authorities have also accused LinkedIn of hosting numerous fake gambling related accounts.
According to the country’s Ministry of Information and Social Development, it had reached out to LinkedIn, asking the platform to remove the offending content. When the company was unable or unwilling to comply, the decision was taken to block access from Kazakhstan.
While many countries block sites actually offering illegal gambling, it’s rare for countries to block entire social platforms. However, Kazakhstan has got form when it comes to such drastic actions, having already blocked Facebook, Instagram, YouTube, and Telegram, along with a plethora of news and activist sites for various perdios, especially during elections or social unrest.
In neighboring Russia, LinkedIn has been blocked since 2016 – though, that was unrelated to gambling, rather the Russian government was demanding all data on Russian users should be stored on servers located within the country.
AYO.NEWS says:
Though it’s easy to suspect gambling adverts and fake accounts were used as a convenient excuse to silence a powerful social network, it’s interesting to note that the Kazakhstani authorities have, apparently, said they will restore access to LinkedIn if the offending content is removed.
A Paris court has ordered French internet service providers to block access to crypto-first casino and sports betting site Stake.com and Cbet.gg.
The French regulator, L’Autorité Nationale des Jeux (ANJ), appealed to the President of the Paris Court to order the sites to be blocked, describing them as “aggressive gaming sites” offering illegal content to French residents.
Cbet and Stake sites are thought to have attracted over 560,000 visits from France in June 2021 alone, highlighting the scale of the issue.
Online casinos are prohibited in France, with the ANJ taking action against any operators it finds targeting French residents. If operators refuse to cooperate with its initial requests, the regulator refers to the courts. Last year, French authorities ordered 281 domains to be blocked.
Last week, Stake.com was named as principal partner and shirt sponsor of Watford FC for the upcoming 2021/22 season.
Kindred Group’s Unibet has been fined a total of AU$48K (approx. US$35K) in New South Wales, Australia, for posting three illegal gambling adverts.
According to the state’s regulator, Liquor & Gaming NSW, the offences took place in November 2020, when content published on the Unibet website and Apple App Store referred to the availability of the Uniboost, Uplift, and Reboost products, which offer a type of special/enhanced odds.
Under the Betting and Racing act 1998, it is illegal to publish gambling advertisements that encourage people to participate frequently – something that Liquor & Gaming NSW argued special or enhanced odds do.
Unibet pleaded guilty to all three offences and was fined AU$16K per offence, making a total of $48K. During sentencing, the Magistrate noted that Unibet had a record of previous convictions for breaching the state’s betting legislation.
The CEO panel at this month’s SBC Digital Italia conference and exhibition is set to see leaders from Lottomatica, SNAITECH, Sisal and Novomatic Italia share their ideas for the future of the betting and gaming industry.
The online event on 28-29 July 2021 features a comprehensive agenda that addresses the major issues faced by both the online and retail sectors, with expert speakers contributing insights from the perspectives of operators, suppliers, the regulator, professional sports, government and law enforcement.
One of the highlights of the agenda comes on the first day, with ‘The Sustainable Future of Gaming’ session, which will examine the impact the industry has on the economy and society.
The panelists will consider how the benefits the sector brings in terms of employment and tax revenue can be balanced with concerns about player protection, with the aim of creating a sustainable model that works for stakeholders across the industry and is acceptable to the Italian public and government.
CEOs from four of the biggest companies in the Italian market will detail how this can be achieved, with Guglielmo Angelozzi (Lottomatica), Fabio Schiavolin (SNAITECH), Francesco Durante (Sisal) and Markus Buechele (Novomatic Italia) all on the panel. They will be joined by moderator Giancarlo Loquenzi, a journalist with RAI Radio 1.
Rasmus Sojmark, Founder and CEO of SBC, said: “We’re delighted to be joined by four of the most influential figures in the Italian industry, all ready to share their thoughts on the future direction of the sector.
“This CEO panel is a must-watch for anyone with an interest in the betting and gaming industry in Italy, as it will be packed with valuable insights, ideas and information about the market.”
The SBC Digital Italia conference agenda, which has been compiled in conjunction with SBC’s local partner Gioco News, also features sessions on the challenge of reshaping the retail gambling sector, how to build on the growth the online market has enjoyed over the last 12 months, the role of the regulator, igaming marketing strategies, and the battle against match-fixing.
The 60-strong speaker line-up includes Marcello Minenna (Direttore Generale, Agenzia Dogane e Monopoli), Domenico Galizia (CEO, Betflag), Marco Castaldo (CEO, Microgame), Roberto Ribaudo (Director, Interpol Italia Division), Carla Ramella (Director of Customs and Monopoly – Central Public Administration, Sogei), Claudio Durigon (Undersecretary, Ministry of Economy & Finance), Stefano Delfini (Criminal Analysis Service Director, Criminal Police Central Directorate, Ministry of Interior), Claudio Marinelli (Project Manager, Criminal Intelligence Officer, Interpol), Luca Turchi (Director of Gaming Control, Office of Games Management, ADM) and Ugo Taucer (Attorney General, Italian National Olympic Committee).
In addition to the conference, SBC Digital Italia will feature a virtual exhibition with 20 leading suppliers showcasing their latest innovations tailored for the Italian market, and a selection of networking opportunities.
Register for your free online pass for SBC Digital Italia at the event’s website: https://sbcevents.com/sbc-digital-italia/register/
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