A metaverse casino has been hit with simultaneous cease and desist orders from four state enforcement bodies across the United States, who have deemed the firm’s nonfungible tokens (NFTs) to be unregistered securities. Over two NFT collections offered by metaverse casino Slotie, the tokens are said to offer access to the metaverse casino, staking rewards, revenue split from its games, lotteries, and native token WATT. However, the regulators don't appear pleased with how the platform has marketed the NFTs and its alleged lack of securities registration. On Oct. 20, Texas, Kentucky, New Jersey, and Alabama state securities boards submitted orders …

Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to a metaverse casino. In a Wednesday announcement, the Alabama Securities Commission, Kentucky Department of Financial Institutions, New Jersey Bureau of Securities, Texas State Securities Board and Wisconsin Department of Financial Institutions alleged the Flamingo Casino Club has been “fraudulently soliciting NFTs” it claims are tied to ownership rights of a casino in the metaverse, thereby giving token holders a share of any profits. The organization has allegedly …

On Friday, Virtue Gaming, a decentralized online poker platform built on the Ethereum (ETH) blockchain, launched the first play-to-earn digital poker casino in the United States. In the U.S., only six states (Nevada, Delaware, New Jersey, Pennsylvania, West Virginia, and Michigan) have legalized and currently regulate online poker. The country has been slow to act on the subject due to concerns that international poker platforms would take revenue away from domestic, land-based gambling venues. Moreover, even in the said states, poker platforms must obtain licenses from each individual jurisdiction to operate. As a result, U.S. residents typically cannot access popular …

United States Securities and Exchange Commission Chair Gary Gensler has doubled down on his “Wild West” analogy for cryptocurrencies, calling stablecoins instruments for gambling at old-timey casinos. Speaking to Washington Post columnist David Ignatius on Tuesday, Gensler said most projects in the crypto space dealt with securities that fall under the regulatory purview of the SEC, while the Commodity Futures Trading Commission, or CFTC, was better suited for enforcement for others. The SEC chair described the authority of both agencies as “robust” but said there were gaps in the coverage, particularly for stablecoins, which “may have attributes of investment contracts.” …

A Las Vegas casino-resort which aims to open for business next month has just partnered with major cryptocurrency exchange Gemini. In an announcement today, Resorts World Las Vegas said it would be allowing customers to use their Gemini wallets “to enhance the integrated resort experience.” President Scott Sibella said the move was part of an effort to integrate “innovative technology conveniences” across the resort. Gemini co-founder and CEO Tyler Winklevoss hinted that patrons would be able to convert fiat into crypto at the resort, meaning that some may have the ability to win at a casino game, then invest those …

Virtual land governance DAO Decentral Games is continuing to expand into the metaverse nightlife space with the launch of an Atari-branded casino. The casino will be the third such gambling establishment for the DAO, which purchases land in virtual worlds like Decentraland and opens digital businesses. Using brand assets from Atari, the provably-fair games are designed to be “nostalgia-inducting,” per a press release from Decentral Games. Gamers can play with a wide range of tokens, including DAI, ETH, and Decentraland’s MANA, and a “gaming mining” program is also in effect that rewards gamblers with Decentral Games’ governance token, $DG. Decentral …

The nonfungible token, or NFT, rush has seen everyone and their Doge flock to the nonfungible market to cash in on the recent craze for tokenized collectibles. Even the celebrities whom one would presume to have little engagement with crypto assets have been rushing to cash in, with the likes of John Cleese, Tony Hawk, Lindsay Lohan and Ja Rule cobbling together NFTs of varying artistic merit over recent months. However, surging NFT adoption has led to public backlash over the perceived carbon footprint associated with crypto asset technologies. Nifty Gateway pledges to go carbon-negative NFT platform Nifty Gateway announced …

The value of the Decentraland (MANA) token climbed 31% leading into March 9, following news that classic game manufacturer Atari would set up a gaming casino inside Decentraland’s virtual realm. Announced on March 8, a partnership between Atari and Decentral Games will see the launch of Atari Casino within Decentraland this coming May. The casino is expected to feature various Atari-themed games, playable with MANA tokens, the DAI stablecoin, Decentral Games’ own DG token, or Atari’s eponymous Atari Token (ATRI). Decentral Games is a community-owned ecosystem-based inside Decentraland, which is governed by its own users with the help of a …

China’s central bank digital currency is expected to further exacerbate Macau’s declining gambling revenues. According to a Dec. 2 article from Bloomberg, junkets — Macau businesses that act as middlemen to facilitate visits by China’s high-roller gamblers — claim their clients are looking to other jurisdictions due to concerns the digital yuan will be introduced to Macau’s embattled gambling sector. The report cites anonymous sources who claim local casino operators have been approached by Macau’s Gaming Inspection and Coordination Bureau to discuss the viability of denominating casino chip purchases in digital yuan rather than Hong Kong dollars, as is presently …

Blockchain technology has recently become a phenomenon in various areas of the economy, driving innovation, fostering growth and bringing added value. Among the most noteworthy of these sectors is the gaming industry. Gaming is a use case that drives true adoption of blockchain technology by taking the incentive for the user from pure speculation to transactions on a blockchain platform. This drives innovation in development as well as consumer adoption. The first true blockchain gaming application was Cryptokitties. While the platform itself is a technology demonstrator for collectible items, it quickly rose to prominence as the application representing the majority …

MGA (Malta Gaming Authority) and other gaming regulators will possibly recognize Bitcoin in 2016. That step will help popularize Bitcoin among both online casinos and gamers. It will also attract to Bitcoin casinos that use fiat money. The Bitcoin online gambling market will continue developing in 2016. Bitcoin casinos are working hard to make their clients’ experience even more pleasant and exciting. For example, NASCasino.com now offers provably fair games and they are able to redirect savings on processing fees / fraud into player bonuses and marketing. Casino representative, Stephen Turk, told Cointelegraph: “I think bitcoin casinos are beginning to …