Wyoming Has Made Cryptocurrency Wagering For Online Sports Betting Legal
By Harry B - Crypto Consultant
The bill legalizes sports betting online in Wyoming while allowing bookmakers to welcome cryptocurrency trading as a form of deposit amongst bettors. As an example of this, those participating can start making over the counter Bitcoin (BTC) bets and other crypto payments when gambling on a multiple of sports and games.
With Governor Mark Gordon recently signing the bill, the new rules will officially go into effect on September 1st. Wyoming will soon be the second state in the United States to allow online sports betting. The state legislature approved cryptocurrency investments 2021 as a viable method of depositing funds into online sports betting accounts.
Crypto trading, as well as digital currencies, now qualify as cash payments when betting, as stated in Article 1 of the legislation, i.e., authorised assets that can be converted to cash to be used in online sports wagering.
Aside from using cryptocurrency, bettors may finance their accounts with online sports bookmakers using traveller’s checks, cashier's checks, money orders, and credit cards, among other methods. With that in mind, online sports betting licensees, will in fact have to already provide online wagering services in three U.S. jurisdictions or more so that they can obtain licenses from Wyoming regulators.
Wyoming has been hailed as having a significant chance of challenging Delaware's company incorporation supremacy due to its favourable stance against buying cryptocurrency. Wyoming has exempted cryptocurrency exchange tokens from securities legislation since 2018.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards