11/29/2023 0 Comments Is online bitcoin gambling legal in usSince federal and state legislatures in the United States have failed to address the use of cryptocurrencies as a gambling medium, this Note illustrates why leaving the virtual gambling space largely unregulated is a net-negative for American society. This Note expands on these arguments and offers a real and tangible solution that provides clarity to innocent gamblers and puts organized crime syndicates on notice. Previous scholarship suggests that a lack of federal action has resulted in a surge of criminal activity, such as money laundering and tax evasion, as well as significant missed opportunities now that cash-strapped states are seeking to fill falling tax revenues in the aftermath of the COVID-19 pandemic. Current US laws and regulations are outdated the only piece of federal legislation that provides oversight in the area of virtual gambling originated in 2006, more than fifteen years before the publication of this Note. Online cryptocurrency casinos have seen a dramatic rise in popularity over the past thirty years as the rate of ownership of cryptocurrencies has risen almost as quickly as the US monetary value of a single Bitcoin.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |