Montenegro to introduce new gambling regulations
Montenegro, a Balkan country that positions itself in the growing market of iGaming, may soon introduce new gambling regulations with the Ministry of Finance.Montenegro's...
Montenegro will amend its anti-digital gambling law
Montenegro has revised its gambling laws in January 2024, banning such new electronic payment methods as Apple Pay and PayPal, which has raised alarms in the international finance community, notably in European betting and iGaming industries.
In Europe’s betting and iGaming sectors, the ban has provoked its own backlash from the public as well as the industry itself. The next revision of such laws is anticipated in the month of August but there are no guarantees that they will resolve these issues.
Though the European Commission advised Montenegro to improve the efforts against money laundering; the January 2024 amendments may make Montenegro to look apart from EU norms as well as global finance trends.
From the beginning of 2024, the gambling industry of Montenegro had been experiencing some form of issues ranging from disruptions to complaints from potential investors who were uncertain about where they should put their money as a result of the changes made in the law.
Montenegro Bet decided to file a constitutional case after getting twenty-five thousand signatures from people who were against the proposed modifications because they felt that this was the only way out while at the same time consulting other worldwide organizations.
A number of operators intend to sue at the International Centre for Settlement of Investment Disputes on claims of corruption and unfair market access occasioned by the new law.
The month of August brings with it hope for amendments that would make Montenegro conform with the EU regulations and global financial standards. Nevertheless, what remains unresolved is the prohibition of contemporary online payment methods in preference for money transactions, which is very troubling.
Montenegro’s gambling payment ban sparks concern
There has been discussion surrounding the contentious decision in Montenegro to prohibit electronic payment methods used for gambling.Customers would no longer be able...
