Belarus Halts Debt-Based Gambling: A Response to the Rise of Online Platforms

Belarus Imposes Moratorium on Debt-Based Gambling Amid Rise of Online Platforms MINSK, BELARUS – The Belarusian government announced a moratorium on debt-based gambling, addressing the rapid growth of online gambling and the use of cryptocurrencies in the sector. The decision comes as online platforms account for approximately 70% of gambling transactions, according to a government official featured in a recent video statement. "The rise of virtual gambling establishments and the use of cryptocurrencies has presented new challenges," the official stated. The government's focus is on regulating the sector to ensure responsible gambling and prevent financial risks. The moratorium aims to provide time for the development of a robust regulatory framework that addresses the unique challenges of online gambling, including the use of cryptocurrencies for transactions. The government's move is seen as a proactive step to manage the risks associated with the burgeoning online gambling industry while ensuring the responsible use of digital technologies in financial activities.