NPR Covers Legality of Bitcoin Gambling With No Conclusion

NPR Covers Legality of Bitcoin Gambling With No Conclusion

The report makes it clear that the Justice Department has made it very clear that one cannot simply open up an offshore casino online and begin taking bets using actual US currency. Last year, a couple of entrepreneurs, the report says, wondered about betting in strictly BTC.The report wonders whether or not that means these casinos can circumvent regulators. Financial earnings of Satoshi Dice was nearly half a million dollars in six months of operations in 2012 accepting BTC bets. “That could turn into a legal black hole,” according to the report. Brian of Seals With Clubs says “We don’t have a bank account at Seals of Clubs, ther is no bank of any sort. We only do this one brand new internet protocol transactions that some nerds are calling money. It’s just a piece of computer code, not really money.”The Justice Department denied to comment when NPR contacted them regard...

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