Why This Metaverse Casino Was Ordered By 4 U.S. States To Halt Operations
The Metaverse, while it has tremendous potential to provide legitimate business opportunities, can also serve as a window for scams that target unsuspecting individuals. That’s the justification given by Texas State Securities Board Director Joe Rotunda in light of the decision he made together with his counterparts in Kentucky, New Jersey and Alabama to immediately […]
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Five US states issued simultaneous cease-and-desist orders against an allegedly Russian-affiliated metaverse casino on Wednesday. Five state securities regulators issued emergency orders to the Flamingo Casino Club, a virtual casino, to immediately stop selling non-fungible tokens. The simultaneous filings by agencies in Texas, Wisconsin, Kentucky, Alabama, and New Jersey accuse the Flamingo Casino of launching […]
Explaining the cease and desist orders, the Texas State Securities Board in particular likened Sloties’ NFTs to something that is “similar to stock and other equities.” A metaverse casino has been hit with simultaneous cease and desist orders from four state enforcement bodies across the United States, who have deemed the firm’s nonfungible tokens (NFTs) to be unregistered securities. Over two NFT collections offered by metaverse casino Slotie, the tokens are said to offer access to the metaverse casino, staking rewards, revenue split from its games, lotteries, and native token WATT.....
The Commodity Futures Trading Commission (CFTC), which is the main financial regulator in the United States, recently ordered a company offering bitcoin options to halt operations. The regulatory agency also ruled that bitcoin and other cryptocurrencies are classified as commodities and are covered by the Commodity Exchange Act. The regulator issued an order filing and simultaneously settling charges against Coinflip, Inc. Derivabit and is chief executive officer Francisco Riordan for activity relating to commodity transactions without the proper licenses. CFTC Ruling on Bitcoin Options.....
The metaverse is booming and so is the gambling industry. This is why the move of casinos into the metaverse has been an inevitable occurrence. It is a highly profitable venture on paper. However, even though many have tried, only a few have managed to succeed. Slotie officially made its debut into the metaverse space […]
Tourists visiting the gambling and entertainment mecca of the US can now get their cryptocurrency at The D Las Vegas Casino Hotel. The D has partnered with Robocoin, a fellow Las Vegas-based company, to place a bitcoin ATM inside its casino. The machine allows users to both buy and sell the currency. Derek Stevens, CEO of the D Las Vegas Casino Hotel, said in a statement: "We're proud to be the first casino property to accept bitcoin and we're excited to offer our customers the convenience of a bitcoin ATM." Vegas and compliance. The D Casino Hotel is located downtown on Fremont Street,....