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Compliance Updates

Brazilian Senate Approves Cryptocurrency Law Project

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Brazil’s Senate has passed a cryptocurrency law project that seeks to give more clarity and protect users from different cryptocurrency-related scams that have happened in the country. The project will now advance to the Chamber of Deputies, which will be responsible for debating and approving or rejecting this new project.

The project was elaborated by choosing different projects that were presented earlier by taking some parts from one, and some from another. Senator Flávio Arns, senator Styvenson Valentim, senator Soraya Thronicke, and federal deputy Aureo Ribeiro all contributed to the final text. This was announced by local media before, which informed the institution was taking steps to achieve the approval of a cryptocurrency law before the end of Q2.

While discussing the law project, rapporteur Iraja Abreu stated: “We advanced the discussions of the report so that we could here today finally vote on this matter of regulation of crypto assets… The central bank was constantly demanding Congress to position ourselves in relation to a regulatory framework that could understand the dimension of this new business environment.”

The cryptocurrency law project approved by the Brazilian senate establishes the concept of cryptocurrencies and virtual asset service providers (VASPs), but leaves the faculty of naming the institution destined to oversee them to the Executive branch of the government. In earlier iterations of this project, this faculty was assigned to the Central Bank of Brasil. The executive branch of the government will be able to assign these tasks to an existing organization or create one just for this.

The subject of non-fungible tokens (NFTs) was left outside the scope of the regulation, with the regulation of these tools being left to another law project due to their special traits. However, the document does amend the penal code of the country to include a new crime, denominated “fraud in the provision of services of virtual assets, securities, or financial assets,” with penalties going from imprisonment from two to six years plus fines.

The document also proposes tax benefits for cryptocurrency mining operations that use 100% renewable energies and become carbon neutral.

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Compliance Updates

Licenses received: RockApp strengthens its position in the US iGaming market

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Licenses received: RockApp strengthens its position in the US iGaming market

 

RockApp, a leading global media buying agency, proudly announces that it has obtained official licenses in all regulated US states, allowing it to promote iGaming services nationwide, including Colorado, Indiana, Massachusetts, Michigan, New Jersey, Pennsylvania, and West Virginia. With these licenses, RockApp is now authorized to operate in all regulated US states, except for New York. This achievement comes amidst tightening regulatory standards, underscoring the agency’s commitment to compliance and excellence in performance marketing. The move positions RockApp as a trusted partner for iGaming companies looking to expand their reach in one of the world’s largest and fastest-growing markets.

These developments enable the agency to work with prominent industry players, including established American brands, and deliver targeted advertising campaigns with measurable results. By securing a legal presence in all regulated states, RockApp reinforces its reputation as a reliable and professional partner, capable of navigating complex regulatory landscapes.

This milestone is part of RockApp’s broader strategy to strengthen its position as a global leader in the media buying industry. Over the past year, the company has demonstrated impressive growth, achieving a 440% increase in customer acquisition, a 300% boost in turnover, and a record-breaking 4,000 first-time deposits achieved in a single day. These achievements reflect RockApp’s dedication to innovation, strategic planning, and delivering exceptional value to its clients.

“This is a pivotal moment for RockApp,” said Niko Belikov, Founder at RockApp. “Securing licenses in the US not only opens new doors for us but also allows us to bring our expertise in iGaming promotion to a market that values professionalism and results. We’re excited to support our clients as they navigate this dynamic landscape and achieve unparalleled success.”

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BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity

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BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.

The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.

This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.

“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.

The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.

This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.

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Compliance Updates

Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

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Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

 

Media Troopers, a leading digital marketing agency specializing in sports betting and iGaming, has marked its two-year anniversary in promoting sports betting in Colorado as a vendor licensed by the state.

Shmulik Segal, CEO of Media Troopers said: “We are very proud of this renewal, as it marks a milestone of two successful years of growth and commitment to the State of Colorado.”

Colorado’s Division of Gaming has renewed Media Troopers’ vendor license, allowing the company to promote sports betting offers for its customers until January 2027.

“Receiving a new license and debuting in a state is always exciting, but it is where the hard work begins,” Segal added. “So I am proud to celebrate two successful years of hard work and dedication in promoting safe and reponsible gaming for our Colorado partners such as BetMGM, bet365, and BetFanatics.”

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