Home Blog Page 515

Lithuania Proposes Mandatory Gambling Player Card System by 2029 in Most Comprehensive European Legislation Yet – iGaming Bitcoin News

0

Key Takeaways:

  • Lithuania’s Finance Ministry proposes mandatory player cards covering all operators by Jan. 1, 2029.
  • Industry group warns a third of the market is illegal; card restrictions may push players offshore.
  • No EU member state currently operates comparable cross-operator tracking with a cashless mandate.

Lithuania Eyes Cross-Operator Tracking and Cashless Gambling

The Lithuanian Ministry of Finance has submitted a draft amendment to the nation’s gambling laws to the government, with the proposed changes set for a parliamentary vote upon cabinet approval. These would require every player to hold a physical card linked to their identity before accessing any gambling service, which would enable government authorities to monitor transactions across all licensed operators in real time.

The legislation envisions a complete phase-out of cash payments in gambling venues by 2029, replacing them with non-cash transactions tied to the player card system. Operators would be required to integrate KYC (know-your-customer) verification, transaction monitoring, and exclusion-list checks into the card infrastructure.

“It strengthens the prevention of problem gambling and ensures that the main objective, reducing access to gambling and its potential harm to health, is actually achieved,” Lithuanian Finance Minister Kristupas Vaitiekūnas told LRT Radio.

Mindaugas Ardišauskas, the head of the Lithuanian Responsible Gambling Business Association, voiced concerns about the proposal, warning that restricting access to legal gambling will push players to illegal platforms and that the amendment’s effect could be significantly smaller than intended. This is because illegal gambling accounts for a third of the Lithuanian market, and if players find the card restrictions unacceptable, they’ll simply switch to unregulated offshore platforms.

In response, Vaitiekūnas disputed this estimate of market distribution and argued that players themselves prefer regulated platforms for safety reasons. The main goal of the card is to put an end to scenarios where players place voluntary gambling restrictions on one platform, but then simply move on to another to circumvent the limit, allowing cross-sector tracking.

The player card proposal builds on a series of recent reforms. Lithuania raised its minimum legal gambling age from 18 to 21 last November and introduced tighter restrictions on gambling advertising from last July. Operators are also now required to deploy systems capable of detecting risky play patterns and intervening to prevent problem gambling.

The Gaming Control Authority (LPT), a body operating under the finance ministry’s umbrella, will receive enhanced powers to oversee compliance across both land-based and remote operations under the new framework.

Lithuania’s system would be the first in an EU member state to combine mandatory physical identification, cross-operator monitoring, and a full cashless mandate into a single regulatory instrument covering both online and land-based gambling. “A three-year transition period is being set to give gambling operators time to upgrade existing equipment or replace it with systems that comply with non-cash payment requirements from 2029,” the minister said.

Certain regulatory and market supervision changes would take effect earlier, from May 1, 2027. These cover regulatory simplification and market supervision changes, with the goal of reducing administrative burden on operators and strengthening LPT’s enforcement powers. Vaitiekūnas estimates “a few hundred thousand euros” as the cost of implementing the virtual card system on the provider side, with no associated costs for players.

Given the Lithuanian government’s stance and last year’s successfully passed provisions, it is expected that some form of this new proposal will make it past the parliamentary level. However, the proposal also has to clear the European Commission’s technical regulation notification process, a step that has previously tripped up Lithuanian gambling legislation in court.

If enacted in its currently proposed form, Lithuania’s player card would go further than any comparable system currently in place across the European Union. Norway requires player cards for its state-run interactive video terminals, but does not extend the requirement to private or online operators. Germany operates a centralized database tracking player deposits with a €1,000 monthly cap, but does not use a physical card. Sweden mandates deposit limits and maintains a national self-exclusion register, but lacks cross-operator transaction tracking, as Lithuania is proposing.

BanCoppel Selects BPC’s SmartVista to Power Its Instant Credit Cards Issuance Across Mexico

0

BanCoppel, one of Mexico’s most prominent retail banks and part of Grupo Coppel, has chosen BPCa global leader in payment solutions, to modernize its cards and payments operations on the next-generation SmartVista platform. This program serves as the cornerstone of BanCoppel’s multi-year digital transformation, designed to position the institution as Mexico’s preferred financial services provider by offering simple, affordable, and accessible solutions.

BanCoppel pioneered unsecured lending for customers without prior credit history, opening access to formal financial services for millions of retail clients previously excluded from traditional banking in Mexico. Building on this legacy, the bank selected BPC to deliver a scalable, flexible, and future-ready technology stack designed for rapid product issuance and configuration.

“This strategic partnership helps us deliver on what matters most: simple, affordable banking for more Mexicans,” said Sergio del Valle, Head of Products, at BanCoppel. “With this modernization, we will be able to reach new customers across both our retail and banking channels, introducing innovative credit card programs. It represents a significant step toward expanding access through our nationwide network, improving everyday financial experiences, and advancing financial adoption and inclusion across the country. We value this collaboration and look forward to building what comes next together.”

Through the implementation of SmartVista, BPC is modernizing BanCoppel’s issuing capabilities, leveraging the platform’s advanced integration features to build a unified payments architecture that accelerates innovation while enhancing security and compliance.

With the new platform, BanCoppel can design and launch credit card programs across both local and international schemes – eGlobal for domestic offerings and Visa for international ones – serving the needs of both banking and retail customers.

Mexican cardholders will benefit from a wide range of modern capabilities including

– Instant card issuance,

– Card freeze and unfreeze controls

– Immediate PIN management.

– Spend management tools

– Real-time balance visibility

– Faster dispute resolution and chargeback among many other benefits.

Card services are now seamlessly integrated into the bank’s broader ecosystem, strengthening its value proposition for customers. The low-code/no-code approach empowers internal teams to fine-tune parameters and launch new offers rapidly, without the need for extensive custom development.

BanCoppel cardholders now enjoy modern payment options and enhanced card experiences. Under its strategic growth plan, the bank is also poised to bring millions of unbanked customers into the financial system over the next five years.

By introducing a single, secure payments foundation, the bank reduces operational complexity and accelerates the delivery of innovative, customer-centric financial products.

“Mexico’s financial landscape is evolving rapidly, and BanCoppel has long been at the forefront of financial inclusion,” said Daniel Hernández, Business Development Director and Country Manager Mexico at BPC. “With SmartVista’s cloud-ready, modular design, BanCoppel gains the flexibility to innovate and scale, reaching new customers through both its banking and retail business lines. We’re proud to support their digital transformation with technology that technology designed to serve their cardholders for decades to come.”

 

Morgan Stanley’s spot BTC ETF may begin trading Wednesday

0

More than two years after the first 11 spot bitcoin ETFs began trading in the U.S., a 12th, issued by a top-10 Wall Street bank with $1.9 trillion in assets under management, could debut Wednesday.

The Morgan Stanley Bitcoin Trust could start trading NYSE Arca under the ticker MSBT, Bloomberg’s ETF Analyst Eric Balchunas said on X, an NYSE listing notice that points to an April 8 launch.

The ETF hold actual bitcoin and tracks the CoinDesk Bitcoin Benchmark 4 PM NY Settlement Rate. It does not use leverage, derivatives, or active trading to beat bitcoin’s price swings. BNY and Coinbase Custody will handle bitcoin storage, and the fund is launching with about $1 million in initial capital (seed) and 50,000 shares ready for trading.

Like its peers, the fund gives investors exposure to the cryptocurrency without having to own or safeguard it themselves.

Where it stands out is on cost: the trust charges a 0.14% annual fee, undercutting BlackRock’s iShares Bitcoin Trust at 0.25% and most rivals.

The impending launch marks a milestone for the market, signaling the first time a major U.S. bank is bringing a spot bitcoin ETF to investors. It underscoring the surging demand for exposure to alternative assets like bitcoin.

Morgan Stanley is pushing deeper into digital assets, having filed earlier this year for spot Solana ETFs and planning to roll out trading in bitcoin, ethereum and solana on E*Trade in the first half of 2026 via a collab with Zero Hash.

Spot ETFs have become a go-to vehicle for institutions seeking exposure to the cryptocurrency. Since the first 11 funds debuted in January 2024, they have collectively drawn more than $56 billion in net inflows, according to data source SoSoValue.

Activity in derivatives linked to these products has surged as well, with the mechanics of options tied to iShares Bitcoin Trust widely seen as amplifying bitcoin’s price slide in early February.

These alternative investment vehicles have driven the mainstream financialization of Bitcoin, helping to dampen its volatility. Market dynamics have evolved, with BTC’s implied volatility increasingly mirroring Wall Street’s fear gauge, the VIX – rising during price declines and falling during rallies.

Morgan Stanley’s upcoming ETF is likely to reinforce these trends.

FDIC Proposes Rules For Stablecoin Issuers under GENIUS Act

0

The US Federal Deposit Insurance Corporation (FDIC) has proposed new rules to regulate FDIC-supervised stablecoin issuers in accordance with the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which was signed into law nine months ago.

In a statement on Tuesday, the FDIC said its board of directors voted to issue a proposal that would set reserve, redemption, capital, risk management and custody standards for stablecoin issuers and insured depository institutions under its supervision.

Source: FDIC

The FDIC insures deposits at more than 4,000 financial institutions and supervises over 2,700 banks and savings associations to maintain stability in the US financial system.

The GENIUS Act granted the FDIC authority to oversee stablecoin activity within the banks and institutions that it supervises when it was signed into law in July, though it is scheduled to take effect on Jan. 18, 2027, if not earlier. 

FDIC insurance won’t directly protect token holders

While reserve deposits backing a payment stablecoin would be insured under the FDIC’s proposed rules, that protection won’t extend to stablecoin holders, the FDIC said.

The FDIC argued that treating stablecoin holders as the insured depositors “seems inconsistent” with the GENIUS Act’s prohibition on payment stablecoins being subject to Federal deposit insurance.

Related: Stablecoins flip automated clearing house volume in February

However, the FDIC said its rules would still provide a more “secure environment” for stablecoin holders by offering them “increased assurance that their payment stablecoins are subject to elevated regulatory and supervisory standards.”

FDIC welcomes feedback

The FDIC invited the public to offer feedback on 144 questions related to how it should regulate stablecoin issuers. Comments will be accepted for the next 60 days.

It marks the FDIC’s second proposal for implementing the GENIUS Act, following a Dec. 19 plan to establish an application procedure for IDIs seeking approval to issue payment stablecoins through subsidiaries.

The Office of the Comptroller is also working to implement the GENIUS Act. The OCC would cover a broader scope of stablecoin activity than the FDIC, as it oversees national bank subsidiaries and certain nonbank issuers.

Magazine: Would Bitcoin really be at $200K if not for Jane Street? Trade Secrets