Curacao Setting Up the New Schedule for Its Gambling Overhaul
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Curacao accepted the support of the Dutch government in an attempt to withstand the effects of Covid-19 pandemic. In return, the Netherlands asked for updates regarding specific reforms in Curacoa. The upgraded schedule was supposed to be completed by January 1, 2023.
Curacao's online gambling regulation is about to change. The new law will introduce additional anti-money laundering measures and require licensees to show proof of having at least three employees on the island. Some operators may be forcefully removed from the market once the new license regulations will come into effect. New law would create a new independent gambling regulator called the Curaçao Gaming Authority. The association would grant licenses to Business-to-Business and Business to Consumer operators in exchange for licensing fees. 1xBet, one of the leading online sports betting companies in the world, was put face to face with the imminent threat of bankruptcy in Curacoa last December.
