BC.GAME, a leading cryptocurrency-based i-Gaming platform, revealed its decision to relinquish its gaming license in Curaçao. The decision was influenced by a challenging regulatory environment that the platform described as increasingly unfavorable for operators. Despite recent efforts to modernize Curaçao’s gaming laws, critical protections for operators remain inadequate, driving BC.GAME’s withdrawal.
The company highlighted concerns about outdated legal frameworks, such as the “Curaçao Bankruptcy Decree” established in 1931. BC.GAME stated that these laws are vulnerable to misuse by malicious actors, potentially jeopardizing legitimate operators.
A Strategic Move to Ensure Global Compliance
BC.GAME emphasized that its decision to exit the Curaçao jurisdiction would not impact its international operations. The company maintains licenses in multiple other regions, ensuring its global activities continue to comply with relevant regulatory standards.
This move aligns with the platform’s broader strategy to adapt to the complex and evolving regulatory landscape of the gaming industry. BC.GAME seeks to align with jurisdictions offering robust and well-defined regulatory frameworks, thereby prioritizing the safety and reliability of its services for users worldwide.
Addressing recent rumors surrounding its financial health, BC.GAME unequivocally denied allegations of financial instability. These speculations stemmed from a bankruptcy ruling on November 12, 2024, involving claims raised by the Foundation for the Representation of Victims of Online Gaming (SBGOK).
The ruling, issued by the Joint Court of Justice of Aruba, Curaçao, Sint Maarten, and the BES Islands, pertained to Small House, which identified itself as BC.GAME’s parent company following its acquisition from Blockdance BV earlier in 2024. Small House argued that the purchase excluded liabilities tied to earlier operations, dismissing the validity of claims brought against it.
In a statement, BC.GAME reiterated its financial stability, assuring stakeholders that its obligations and global operations remain unaffected by these developments. The company affirmed its commitment to fulfilling all legal and financial responsibilities.
Challenges with Curaçao’s Regulatory Framework
BC.GAME’s decision to relinquish its Curaçao license coincides with the island’s efforts to reform its gaming regulations. These reforms aim to address long-standing criticisms of inadequate oversight in the jurisdiction. However, the process has faced setbacks, including political disputes and allegations of misconduct involving government officials.
The company underscored the “hostile environment” for operators in Curaçao, stating that the outdated bankruptcy laws present significant risks for businesses. BC.GAME’s withdrawal marks a proactive step in mitigating these risks while securing the company’s future in more stable regulatory territories.
Commitment to Innovation and Compliance
As a prominent platform in the cryptocurrency gaming space, BC.GAME continues to focus on delivering secure and diverse gaming experiences. It offers a range of services, including sports betting and electronic games, while emphasizing player protection and technological innovation.
Despite the challenges in Curaçao, BC.GAME’s exit from the jurisdiction underscores its commitment to operating within jurisdictions with modern, effective regulatory frameworks. By doing so, the platform aims to enhance user confidence and maintain its reputation as a leader in the global i-Gaming sector.
Source: BC.Game via PRNewswire – official PR
Source: Leicester Mercury
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2024-12-08 23:42:00