During the holidays (ICE) of the casino and online casino games industry in London has warned the UK Gambling Authority that it sees NFTS and crypto as gambling. It warns that these new technological developments are seen as investing, however the UK Gambling Authority sees it as gambling. It therefore wants to warn people about this new phenomenon where the boundaries of what gambling is and investing is slowly blurring.
The British KSA signals the problem that the boundaries of online gambling are increasingly blurring. The definition of gambling as we know it has changed, according to the KSA, and should be treated as such. The new technological developments concerning cryptocurrency and NFTS have nothing to do with Roulette or Blackjack but according to the Ksa have a gambling element in it.
The supervisor therefore emphasises the need for increasing international cooperation. Especially since crypto companies and NFTS operate internationally, it is difficult to get a grip on it. In addition, each member state within the EU can determine its own rules regarding gambling. For now, Crypto and NFTs are not yet seen as gambling, but that may change in the future..
