Cyprus Betting Regulator to Look At Blockchain and Crypto Trends

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.

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