11 january 2025
Cryptocurrencies in the gambling business: who benefits from the lack of a legal framework
The prospects of crypto gambling, the risks of the “gray” market, and future regulation - in a conversation with Cosmobet beneficiary Mikhail Zborovsky. Cryptocurrencies have become an integral part of the modern economy. They are used for investment, payment for services, and even in traditional sectors. The gambling industry is no exception: blockchain technologies have opened up new opportunities for process automation, increased transparency, and expanded access to the global market. However, unlike classical payment systems, cryptocurrencies still remain in the “gray zone” of legislation in many countries, including Ukraine. This uncertainty provides both new opportunities for business development and increased risks for participants. Why are gambling and cryptocurrencies distrusted? -Mikhail, why is the attitude towards gambling and cryptocurrencies in Ukrainian society mostly negative? - This is due to several factors. Cryptocurrencies are often perceived as unstable financial instruments, and...