As the gambling industry continues to grow each year, the policy and regulatory framework is developing with it. From changes in taxation to laws regarding usage of foreign currency, it’s vital to understand new updates in the world of gambling-related policies. Here, we provide an overview of the recent developments related to Forex gambling policies. The issue of gambling has been debated and discussed for centuries, and many countries have adopted legislation to regulate the practice. Recently, there have been significant developments within the gambling policy space, both in terms of gambling regulation and harm-minimisation measures.
In the U.S., Congress recently passed the Sports Wagering Market Integrity Act (SWMIA) of 2021. This landmark legislation imposes tougher regulations on sports betting, including rules to prevent match-fixing and other forms of corrupt behaviour, as well as implementing standards for responsible gambling behaviour.
In the UK, the Gambling Act of 2021 was passed. This new legislation has been hailed as a major move forward in clamping down on problem gambling, and includes measures to restrict the amount of advertising for gambling activities, and a ban on gambling transactions that involve minors.
In Europe, countries such as Iceland, Germany, and Austria have implemented harm-minimisation measures such as banning loot boxes in video games, as well as placing restrictions on gambling advertising.
The recent string of policy developments demonstrate the willingness of governments around the world to take a stand against problem gambling and gambling-related harm. This is a positive step forward, and sets the stage for further advancements in the coming years.