Singapore’s two casinos have been granted permission to introduce cashless gaming, but the use of cryptocurrencies remains prohibited.
Singapore.- Amendments to the Casino Control Act have gained parliamentary approval, tightening certain regulations and protections for vulnerable groups. The country’s two casinos will be allowed to introduce cashless gaming but cryptocurrencies will not be permitted due to concerns over money laundering.
The Gambling Regulatory Authority (GRA) will retain the authority to regulate gaming software used on mobile devices within casino premises. The bill transfers the authority to authorise the primary stakeholders of casino operators from the GRA to the Minister for Home Affairs, which the government sees as more suited to “guarantee ongoing harmony between the integrated resorts (IRs) and the strategic goals of the Singapore government.”
The GRA must approve all casino games, gaming machines, and chips. The bill will give the GRA the power to regulate betting and lotteries in casinos in addition to games of chance. It will also decide what can be used as chips. Additional measures include maintaining entry levies for Singapore citizens and permanent residents, reinstated at SG$150 daily and SG$3,000 annually after a period of lower rates.
Singapore’s two casinos have been granted permission to introduce cashless gaming, but the use of cryptocurrencies remains prohibited. Singapore.- Amendments to the Casino Control Act have gained parliamentary approval, tightening…
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