Spain Rules that Bitcoin Gambling Sites Must be Licensed

Identity checks and money laundering regulations will also apply.

Key Takeaways

Spain has ruled that bitcoin is of economic value, and therefore gambling sites using the digital currency are required to be licensed by DGOJ.
““Ultimately, bitcoin is a convertible virtual currency that can be exchanged between users and converted into dollars, euros or other currency.”

The Spanish government has confirmed that online poker and gambling sites that use the digital currency bitcoin are required to be licensed.

The Ministry of Housing and Public Administration issued the decision after the Coinffeine bitcoin exchange asked whether bets on bitcoin gambling sites were legally enforceable.

21+ in OH. Please play responsibly. For help, call the Ohio Problem Gambling Helpline at 1-800-589-9966 or 1-800-GAMBLER.

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Jocelyn Wood, Editor Joss is a graduate in English from the University of Birmingham and has a Master’s Degree in Organisational Development from the University of Manchester. His career path has taken him from the British Army, through business & finance to seven years as a successful professional poker player. His experience of the European Union, law, accounting, finance, regulation and online poker provide the basis for his insights in the PRO specialist categories of Industry and Law & Regulation. As CEO he steered his own company through full Financial Services Authority regulation, and was asked by Morgan Stanley to take their UK mortgage business through the same process. Although British, he lives in Arequipa, Peru, set high in the mountains and surrounded by volcanoes. He is married to a Peruvian and has three children.

Article published on September 16, 2014.

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