⛔️Uruguay🇺🇾: The Central Bank increases control over financial transactions in the gambling sector.

⛔️Uruguay🇺🇾: The Central Bank increases control over financial transactions in the gambling sector.

Illegal betting, be gone❗️ The new regulatory framework (Article 171.1) — not exactly new… it already applies to institutions issuing electronic money (IEDE). Now, however, it will extend to payment and collection service providers.
➡️ The regulation focuses on companies to implement “adequate preventive mechanisms”* to prevent financial transactions related to betting and other online gambling.

➡️ Remember that online gambling in Uruguay is illegal. Just 2 months ago, the National Directorate of Lotteries and Quinielas (DNLQ) of Uruguay reported blocking 1500 such sites. The only platform authorized to place sports bets is Supermatch, which is managed by the Directorate. The bill to legalize online gambling, which has already been approved by the Senate, is still pending.

➡️ …But there is good news: the Uruguayan regulator is preparing to implement the Instant Payment System for the commercial sector. The Vice President of the Central Bank, Washington Ribeiro, confirmed that QR code payment infrastructure will be installed in stores for this purpose.

In general, we wait.

#news #Uruguay #gambling

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