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CFTC Withdraws Specialized Guidance On Cryptocurrency Derivatives
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March 31, 2025
CFTC Withdraws Specialized Guidance On Cryptocurrency Derivatives
By: Jake Gray
In step with the Securities and Exchange Commission’s (“SEC”) transformation from cryptocurrency adversary to ally, the Commodity Futures Trading Commission (“CFTC”) is now following its sister agency’s lead. By withdrawing its specialized guidance on digital currency derivatives, the CFTC signals a more accommodating regulatory approach that recognizes the growing maturity and mainstream acceptance of digital asset markets. As of March 28, 2025, both CFTC Staff Advisory No. 18-14 and the subsequent 2023 guidance, CFTC Staff Advisory No. 23-07 have been officially withdrawn, marking a clear departure from the agency’s previous cautionary stance.[1][2] What’s In the Advisories The CFTC’s first digital asset advisory, Letter No. 18-14, came in 2018 when digital asset derivatives products and their underlying spot markets were new,…
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Sweepstakes Issues Draw Focus at Next.io Summit
March 27, 2025
Sweepstakes Issues Draw Focus at Next.io Summit
By: Jordan Briggs
Social casinos were one of the many hot topics at the Next.io summit in New York March 12-13, so much so that they got their own well-attended summit on March 11. Generally, there are three types of online social casinos: social casinos with no option to purchase any plays; social casinos with the option to purchase plays and the only thing a user can win…
YouTube Fills Federal Policing Void on Gambling
March 17, 2025
YouTube Fills Federal Policing Void on Gambling
By: Sara Dalsheim
The ultimate inhibitor of the regulated gambling industry is the illegal ever-present offshore market. The regulated industry has been consistently asking for assistance from law enforcement to assist them in stamping out the illegal market – that, unlike the regulated industry, is not required to abide by any of the mechanisms that protect consumers. The federal government has failed to answer the call, so the…
Facebook Takes Steps to Expand Presence in Real Money Gaming
February 11, 2013
Facebook Takes Steps to Expand Presence in Real Money Gaming
By: Ifrah Law
Facebook is quickly expanding its real money gaming platform. Net Entertainments has signed a license agreement with Bonza Gaming, which is a joint venture between gaming publisher Plumbee and online gaming operator Sportingbet. Under the agreement Net Entertainment will offer a range of casino games to Bonza Gaming, which will create an app, Bonza Slots, that will be available on Facebook to users that want…
DOJ Brief Tries to Keep N.J. Sports Gaming Law Out of Bounds
February 3, 2013
DOJ Brief Tries to Keep N.J. Sports Gaming Law Out of Bounds
By: Ifrah Law
On Friday, February 1, 2013, the U.S. Department of Justice filed a brief in the U.S. District Court for the District of New Jersey defending the constitutionality of the Professional and Amateur Sports Protection Act of 1992 (PASPA), the hotly contested federal law that prohibits sports betting in most states. New Jersey is seeking to have the court find this law unconstitutional. A win for…
DOJ Plans to Intervene in N.J. Sports-Betting Case
January 22, 2013
DOJ Plans to Intervene in N.J. Sports-Betting Case
By: Ifrah Law
The U.S. Department of Justice announced on January 22, 2013, that it plans to intervene in the lawsuit brought by the four major professional sports leagues and the NCAA challenging a New Jersey state law that legalized sports betting in the state. The leagues have argued in court papers that the New Jersey law is invalid because it directly contravenes a 1992 federal law, the…
N.J. Again Passes Online-Poker Bill; Decision Now in Governor’s Hands
December 20, 2012
N.J. Again Passes Online-Poker Bill; Decision Now in Governor’s Hands
By: Ifrah Law
New Jersey could soon become the third state to legalize online gaming within its borders. Its State Senate on December 20, 2012, voted 33-3 to legalize online poker in the state. The General Assembly had previously approved the bill by a vote of 48-25-3. The bill was able to achieve significant bipartisan support in both houses of the state legislature. The bill will now be…
Reid-Kyl Bill Would Legalize Online Poker at Federal Level
October 24, 2012
Reid-Kyl Bill Would Legalize Online Poker at Federal Level
By: Ifrah Law
A draft of the online poker bill that Sen. Harry Reid (D-Nev.) and Sen. Jon Kyl (R-Ariz.) plan to introduce was released this week. The bill, known as the “Internet Gambling Prohibition, Poker Consumer Protection, and Strengthening UIGEA Act of 2012” would legalize online poker at the federal level, a step that became possible last December when the U.S. Department of Justice released an opinion…
