SatoshiBet not planning to withdraw from more markets despite US exit

SatoshiBet not planning to withdraw from more markets despite US exit

Thursday, October 30, 2014 Totally Gaming

Bitcoin gambling website SatoshiBet is not planning to withdraw from other markets despite having opted to block all customers in the US, a company spokesperson has confirmed to TotallyGaming.com.

The operator confirmed in an announcement on social media network Reddit that it is to withdraw its services from the US due to concerns over gambling regulation and future legal issues that could prevent players in the country from accessing the website.

US customers that visit the site are now met with a message that reads: “Your IP appears to be from the United States or another jurisdiction where SatoshiBet does not offer its service.

“You may not access satoshibet.com from the United States or any other excluded jurisdiction. Please contact us for any questions.”

In a statement issued to TotallyGaming.com, a company spokesperson expanded on SatoshiBet’s decision to exit the market and confirmed that it has no plans to re-enter the US in the near future.

“It was advised by our legal counsel as the best way to mitigate any legal liability moving forward, in regards to the fast moving regulatory landscape of cryptocurrencies,” the spokesperson told TotallyGaming.com.

“Together with our legal counsel, we keep a close eye to the regulatory developments around both Bitcoin and Bitcoin gaming. We of course hope that at some point in time sufficient clarity is established by lawmakers that perhaps allows us to re-enter the market.”

Despite its withdrawal from the US, the spokesperson allayed any fears that SatoshiBet could also exit other markets.

“At this point in time there are no plans to withdraw from other markets, but this can change at any point in time,” the spokesperson said.

“We are constantly monitoring the fast evolving regulatory environment worldwide in regards to cryptocurrencies and gaming.”

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