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Nederlandse Loterij has announced plans to appeal portions of the Lalabet decision, particularly arguing that trust firms have a duty to properly vet their clients.
The operator was also investigating the roles of the same trust firm in relation to Qbet and Skyhills, indicating further legal proceedings may be forthcoming once corporate structures are clarified.
The crackdown on illegal gambling sites coincided with a broader policy debate in The Hague. The Dutch House of Representatives is set to discuss gambling regulation reforms this week.
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It could, therefore, take quite a bit longer than the timing of the initial filing indicates. The CFTC would have to publish its action and solicit public comment after White House review before writing a formal proposed rule. Any final rule would have to undergo another review and comment period before it could take effect.
The distinction matters for crypto businesses. The filing shows regulatory work is moving forward, but exchanges and other market participants cannot yet consider it a set of rules they must adhere to.
The CFTC’s move also comes as other US regulators continue to craft their own crypto policies. The agency and the Securities and Exchange Commission (SEC) jointly issued an interpretation in March on how certain crypto assets would be treated under federal securities laws.
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Earlier this year, Turkish Interior Minister Mustafa Çiftçi called illegal betting a “scourge that corrupts society” and emphasised a move towards tougher enforcement.
According to Çiftçi, the rapid growth of digital payments and cryptocurrencies has transformed illegal betting into a major conduit for money laundering.
“Casinos, junkets, cryptocurrencies and underground banking are the most critical parts of the money laundering infrastructure that fuels international organised crime,” he said at the time. “The global gambling market will reach $205 billion in 2030.”
