Curacao to introduce new online gambling regulator.
The island of Curacao plans to review the process for approving an online gambling licence, creating a new licensing authority – with higher barriers to entry and the ability to cooperate with other regulators.
Since the Netherlands government took steps to regulate online gambling, the Curacao government comes under increasing pressure to limit the licences issued to gambling operators.
Currently, only 4 organisations have direct licences, giving the possibility to offer their own sub-licences to all gambling operators and set their own conditions. This means that individuals, rather than the government, have the most practical control over licensing.
Therefore, a new system will be established with licences for both B2C operators and B2B suppliers issued by the Curacao Gambling Authority (CGA).
The fees for the licences are expected to be around €4,000 per application and then €12,000 per year plus a monthly fee of €250 per URL.
Requirements include stricter AML protocols and a provision that each licence holder must have at least 3 employees living in Curacao.
Read more at the link: https://gamblingindustrynews.com/news/regulation/curacao-new-online-gambling-regulator/