BC.Game has received a fresh permit under Curaçao’s updated LOK regulatory structure. This represents a notable action for the island territory as it shifts away from the outdated National Ordinance Offshore Games of Hazard (NOOGH) structure in favor of the recently established “National Ordinance for Games of Chance” (LOK).
This revised licensing structure, which had its initial review in the Curaçao legislature in late February, indicates a firm dedication from Curaçao to reinforce the regulatory environment of the iGaming sector. The shift is partly motivated by Curaçao’s Finance Minister, Javier Silvania, who recognized the difficulties the island has encountered in upholding a positive image in the online gambling realm.
The updated LOK structure implements a more comprehensive and open system with a modernized application procedure, modified cost arrangements, and more stringent due diligence protocols. For providers like BC.Game, obtaining this permit is evidence of their commitment to delivering a secure, equitable, and reliable gaming experience for their players.
BC.Game’s CEO, Jack Dorsey, conveyed his excitement about the new structure, highlighting its significance in their continuous efforts to raise industry benchmarks. This change signifies a beneficial stride for both BC.Game and the Curaçao gaming authority as they both aim to cultivate a more protected and trustworthy online gaming atmosphere.
Our reputation has been tarnished by unjust accusations of illicit activities, causing significant damage to our brand. However, the acquisition of this LOK permit will showcase our company in a completely different perspective.”
This authorization is a pivotal moment for BC.Game, empowering the renowned cryptocurrency gaming platform to function within a legal framework across an expanded range of nations.
Dorsey further remarked, “This is merely the initial step,” implying ambitious aspirations for BC.Game’s international growth. “Anticipate even grander and more remarkable developments from us in the near future.”
It’s important to acknowledge that BC.Game already possesses a license from the UK Gambling Commission, a regulatory authority held in high esteem.