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Cyprus Betting Regulator to Look At Blockchain and Crypto Trends

The National Betting Authority is exploring whether blockchain technology can help it supervise the country’s gambling industry.

Sep 2, 2021 at 5:37 a.m. UTC
Updated Sep 2, 2021 at 2:34 p.m. UTC

Cyprus’ National Betting Authority will host an event next week to discuss the latest trends in blockchain and crypto with a focus on how the budding technology may provide opportunities to the nation’s gambling industry.

  • The gambling regulator said in a blog post on Thursday that while the technology presents “unprecedented” opportunities, challenges relating to government regulation and issues of national sovereignty are also present.
  • The National Betting Authority is exploring whether blockchain technology can support and enhance its supervision of Cyprus’ gambling industry.
  • A presentation by the University of Nicosia is expected to touch on blockchain and cryptocurrency use in the industry with a panel discussion to follow on the benefits the technology brings to the public and private sectors.
  • Meanwhile, Christiana Aristidou, a technology lawyer and president of the Technology Committee of the Cyprus Bar Association, is expected to moderate the discussion, which is scheduled to take place next Wednesday.
  • In 2013, Nicosia became the world’s first accredited university to accept bitcoin from students as a form of payment for tuition and fees.
  • Cyprus is no stranger to blockchain technology, having used it earlier this year to certify that about 100 doctors and nurses had received COVID-19 vaccinations.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

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