⛔️ Kyrgyzstan🇰🇬: Parliament proposes requiring banks to block payments to illegal operators

⛔️ Kyrgyzstan🇰🇬: Parliament proposes requiring banks to block payments to illegal operators

The Committee on Judicial and Legal Affairs, Law and Order, Combating Crime and Countering Corruption reviewed and approved a bill “On Amendments to Certain Legislative Acts of the Kyrgyz Republic in the Field of Gambling and Lottery Activities” in its first reading.

➡️ An unexpected measure..❓— The initiative was put forward by the Cabinet of Ministers, which acknowledged that blocking measures — widely used by regulators in many countries — are not particularly effective, as citizens can access offshore platform websites through VPNs or Telegram. The authorities are therefore seeking to introduce additional control measures.

➡️ How exactly❓— By banning the organization and operation of gambling in the form of binary options. The ban will apply to:

❌ advertising;
❌ the acceptance of funds and virtual assets for participation in such operations.

➡️ Crime and punishment: organizers of illegal lotteries could face prison sentences of 3 to 5 years. A new Article 219 (2) will be added to the Criminal Code of the Kyrgyz Republic for this purpose. If the case involves the promotion or organization of binary options, the prison sentence could range from 3 to 8 years.

➡️ Context: there are currently 7 licensed land-based casinos operating in the country —6 in Bishkek and 1 in Osh— as well as 24 licensed online platform operators.

The proposal introduces additional measures to combat illegal gambling activities.

#news #neighboring_countries #gambling

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