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Key facts (as of 29 October 2026)
- Curaçao: the Curaçao Gaming Authority (CGA) issued a crypto policy guideline for B2C licence holders. It treats crypto as high risk by default, prefers fiat-backed regulated stablecoins, requires blockchain analytics, bans personal and UBO-linked wallets, and expects withdrawals to return to the same wallet and asset by default. Policies were due on the CGA portal by September 2026; full implementation by June 2027 (CGA guideline, June 2026; AGB).
- Great Britain: UKGC licensees must notify the Commission (key event 8) of changes in payment methods and review their AML risk assessment when adding one; for crypto, the Commission asks how value fluctuations, insolvency and consumer information will be handled (UKGC). In February 2026 the Commission said it was exploring a "potential path forward" for crypto payments through its Industry Forum (CoinDesk).
- Ontario: AGCO Standard 5.69: "Cryptocurrency is not legal tender and shall not be accepted" (AGCO, Funds Management).
- Peru: under the current regulations, crypto transactions by licensed online operators are classed as a serious infringement. The draft amendment published on 21 October 2026 would cut the fine range from 50–150 UIT to 1–35 UIT (Estudio Rodrigo).
- Brazil: fixed-odds betting banned outright since 25 September 2026 by MP 1.394, whatever the payment method (Planalto).
Two different questions
| Question | Who decides | Typical answer |
|---|---|---|
| Can players deposit and withdraw in crypto or stablecoins? | The gambling regulator, via licence conditions | Ranges from banned to permitted with strict controls |
| Can the operator settle with PSPs, suppliers and affiliates in stablecoins? | Contracts, financial regulators, the operator's providers | Often possible through licensed providers, subject to AML |
NoteA licence that lets an operator take player deposits in crypto does not let it serve countries where gambling is illegal or the operator is unlicensed.
Regulator positions
| Regulator | Player crypto payments | Key requirements |
|---|---|---|
| Curaçao (CGA) | Permitted, subject to the 2026 crypto policy guideline | Blockchain analytics; wallet segregation; no personal or UBO-linked wallets; same-wallet, same-asset withdrawals by default; Travel Rule with VASPs; operators may not act as exchanges, payment providers or VASPs |
| Great Britain (UKGC) | Not formally banned; key event notification and AML review required; Commission exploring a path (Feb 2026) | Source of funds; fluctuation handling for limits and AML triggers; insolvency treatment; consumer information |
| Ontario (AGCO) | Not accepted (5.69) | Deposits authorised by a financial services provider |
| Peru (MINCETUR) | Crypto transactions are a serious infringement | Draft of 21 Oct 2026 would lower the fine (Estudio Rodrigo) |
| Brazil | Betting banned | Not applicable |
| Philippines (PAGCOR) | Check licence conditions and BSP VASP rules | Accredited gateways |
Sources: CGA guideline; UKGC; AGCO; Estudio Rodrigo; Planalto. The Philippines row is a pointer, not a statement of PAGCOR's rules.
Curaçao's phased deadlines
| Stage | Requirement |
|---|---|
| Immediate | Prohibitions on sanctioned wallets, mixers, prohibited crypto assets, personal or UBO-linked wallets, and acting as an exchange, payment provider or VASP |
| September 2026 | Compliant crypto policy uploaded to the CGA portal |
| December 2026 | Risk assessments, VASP due diligence, wallet controls, monitoring procedures, staff training |
| June 2027 | Full implementation: wallet segregation, blockchain analytics, withdrawal whitelisting, audit-ready records |
NoteThe CGA's guideline is dated June 2026; the deadlines run from that date (CGA). Check the CGA's online gaming page for later versions.
A decision path
flowchart TD
A[Market and licence] --> B{Gambling legal and licensed there?}
B -- No --> X[Do not serve]
B -- Yes --> C{Licence allows player crypto?}
C -- No, e.g. Ontario --> F[Fiat only for players; B2B stablecoins via licensed providers]
C -- Yes, with conditions --> D[Build controls: analytics, wallet ownership, limits in fiat terms, Travel Rule]
D --> E[Notify or obtain approval as required]WarningStablecoins are not a route around a gambling ban, a payment block or a licensing requirement. Regulators treat crypto as higher risk, not lower.
Controls regulators expect
| Control | Why |
|---|---|
| Blockchain analytics on deposits and withdrawals | Source of funds; sanctions; mixers |
| Wallet ownership checks | Stops third-party funding |
| Limits measured in fiat terms | Volatility affects responsible-gambling tools and AML triggers (UKGC) |
| Return to source | Same wallet, same asset by default (CGA) |
| Segregated wallets | Separates player, operating and treasury funds (CGA) |
| Travel Rule | Transfers with VASPs |
Illustrative example: one group, three licences
Illustrative example. The group is invented.
A group holds Curaçao, UKGC and Ontario licences. On its Curaçao-licensed site it accepts USDC and USDT from verified players, with analytics screening and same-wallet withdrawals, and has uploaded its crypto policy. In Great Britain it accepts no crypto and follows the Commission's work. In Ontario it accepts none. All three entities settle with their main PSP in USDC through a licensed provider.
Timeline
| Date | Event |
|---|---|
| 28 Mar 2023 | UKGC guidance page on crypto-assets last updated |
| 24 Dec 2024 | Curaçao's National Ordinance on Games of Chance (LOK) takes effect (CGA) |
| 27 Feb 2026 | UKGC explores path for crypto payments (CoinDesk) |
| June 2026 | CGA crypto policy guideline issued |
| September 2026 | CGA policy uploads due |
| 25 Sep 2026 | Brazil bans fixed-odds betting |
| June 2027 | CGA full implementation |
| October 2027 | UK FCA crypto regime expected to start (CoinDesk) |
Q/A
Can a UK-licensed operator accept USDC tomorrow?
It would need to notify the Commission, review its AML risk assessment and meet the Commission's expectations. Take advice.
Are stablecoins treated better than other crypto?
Curaçao states a preference for fiat-backed regulated stablecoins (CGA). The UKGC guidance and AGCO Standard 5.69 read this pass do not distinguish stablecoins from other crypto.
Can withdrawals go to a different wallet?
Curaçao's default is the same wallet and asset; it allows exceptions where equivalent controls are in place and conversion goes through a regulated VASP (CGA).
Does a PSP's licence matter?
Yes. Curaçao requires documented due diligence on VASPs. See Choosing a stablecoin settlement provider.
Sources
- CGA, crypto policy guideline for online gaming operators: https://gamingcontrol.spin-cdn.com/media/online_gaming_policies_and_guidelines/20261012_crypto_policy_guideline_jun_2026.pdf (June 2026), listed at https://www.cga.cw/regulation/online-gaming
- AGB, Curaçao Gaming Authority issues crypto policy (25 June 2026): https://agbrief.com/news/world/25/06/2026/curacao-gaming-authority-issues-first-dedicated-crypto-policy-for-lok-license-holders/
- UKGC, blockchain technology and crypto-assets: https://www.gamblingcommission.gov.uk/licensees-and-businesses/guide/page/blockchain-technology-and-crypto-assets/
- CoinDesk, UK gambling watchdog explores crypto payments (27 February 2026): https://www.coindesk.com/policy/2026/02/27/uk-s-gambling-watchdog-explores-allowing-gamblers-to-pay-bets-with-crypto
- AGCO, Registrar's Standards for Internet Gaming, Funds Management: https://www.agco.ca/en/responsibilities-and-resources/funds-management
- Estudio Rodrigo, MINCETUR proposes changes (26 October 2026, law-firm note): https://www.estudiorodrigo.com/publicaciones/alerta-contratacion-tecnologica-y-derecho-digital-octubre-2026
- Planalto, MP 1.394: https://www.planalto.gov.br/ccivil_03/_ato2023-2026/2026/mpv/mpv1394.htm
FiatDesk Wiki is educational. Not financial or legal advice.