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Gambling guide raises concerns over Bitcoin rules

Wed, 28 Dec 2016


An online gambling guide believes the Isle of Man's Bitcoin regulations could be at odds with anti-money laundering laws.

The Isle of Man Gambling Supervision Commission approved changes earlier this year allowing the digital currency to be used to make deposits to online gambling sites.

In a review of Bitcoin's development in 2016, Casino.org claims the currency's untraceable nature means it won't satisfy many anti-money laundering measures.

Bitcoin was introduced in 2009 through open source software.

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