FreeBitco.in fined by Dutch Gambling Authority  

The Dutch Gambling Authority (KSA) has fined CB Investments B.V., the operator of FreeBitco, €6.1 million. on a platform, for providing unlicensed online gambling services in the Netherlands. An inquiry by the KSA found that FreeBitco. permitted users to engage in games of chance with cryptocurrencies, such as Bitcoin, without the necessary license. The platform’s activities breached Dutch regulations designed to protect players and maintain a fair gaming atmosphere. René Jansen, Chairman of the KSA, emphasized the regulator’s dedication to addressing illegal gambling to protect at-risk players and enforce the rules of the Dutch gambling market. He reiterated the significance of enforcing licensing regulations to uphold integrity in the industry. The penalty underscores the KSA’s continued efforts to regulate the market after the legalization of online gambling in October 2021. The authority is ongoing in its oversight and punishment of operators who do not adhere to Dutch law. CB Investments B.V. has not yet addressed the fine. The KSA reaffirmed its commitment to providing a safe and legal gambling environment for all participants in the Netherlands.