According to Odaily, the Singapore Parliament has passed an amendment to the Casino Control Act aimed at enhancing the effectiveness of the country's casino regulatory framework and protecting vulnerable groups. The amendment introduces significant changes to the regulation of casinos in Singapore. The government will grant the Gambling Regulatory Authority (GRA) increased powers to oversee a broader range of gambling activities within casinos, including betting and lotteries. This measure is intended to prevent the regulatory framework from becoming outdated due to new products that casino operators might introduce.
Additionally, the amendment addresses digital currencies. Notably, cryptocurrencies will not be permitted by the GRA to be used as casino chips. The primary reason for this prohibition is the risk of money laundering associated with cryptocurrencies.
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