Will GamStop Take Action to Block Crypto Platforms

Cryptocurrencies have many advantages and reasons why they are so popular in iGaming. First of all, they provide anonymity and allow players to play without revealing their personal information. This is a great option for those who want to maintain their privacy and avoid the risk of fraud or identity theft. In addition, cryptocurrency-based games provide players with a wide range of different games.

However, the fact that Gamban was one of the first platforms to join the blocking of virtual money raised an interesting question. Will GamStop take the same measures, and what should we expect? To give a truthful answer to this question, we have actively researched all aspects. We are ready to share this information with you below.

What is GamStop?

Source: premiumtimesng.com

GamStop is a UK-based platform that provides a self-exclusion service. Here, players can choose how long they will be excluded from all available platforms connected to the program. These are the ones that operate under the UKGC license. The period for which the restriction can be issued is a minimum of 6 months and a maximum of 5 years.

This program is considered completely safe and does not require the installation of additional software. If your favorite casino is also related to this program, it is considered completely legal.  At the same time, casinos not on GamStop do not have UKGC licenses, but UK players have access to them. According to the CasinoGap guide, these non-GamStop gaming sites rely on internal self-exclusion tools, unlike UKGC-licensed brands

It is important to note that once you join the Gamstop program, you cannot cancel your self-exclusion plan. When the period of self-ban expires, you will need to contact customer service. They will help you exit or extend the program. Gamstop’s program website also offers numerous links to reputable counseling services.

Crypto Trading Block ─ Gamban Case

Source: medium.com

Nowadays, gambling and cryptocurrencies have a much deeper connection than just Bitcoin payments. Players use tokens such as Bitcoin, Ethereum, Tether, and many others to make deposits. But if we consider Gamban’s research, it becomes clear that crypto trading is not as simple as it seems at first glance. Unfortunately, it has been proven that cryptocurrency trading can be addictive and has the risk of impulsive decision-making. Therefore, Gamban decided to block trading platforms.

According to their research, many traders perceive this activity as a game of chance. For such people, losing money while investing in cryptocurrencies creates a sense of excitement, and they try to “win it back.” Moreover, in the future, it can lead to financial problems.

Gambling and crypto trading provide their users with a sense of emotional uplift and excitement. Therefore, the UK government wants to take serious measures and regulate crypto trading to add transparency and confidence to people’s lives.

The main key to success in gambling and crypto trading is good luck. Therefore, regardless of whether players use non-GamStop casinos, they must understand all the risks and aspects of influence. Undoubtedly, in both cases, you can analyze and make decisions based on previous data or trends, but these are only auxiliary tools. Such actions can increase the chances of a better outcome; however, it will still be random.

Will GamStop Block Crypto Trading Platforms Too?

Source: gamcare.org.uk

This question has been discussed by experts and players alike. That’s why our team has researched to provide truthful information. Currently, GamStop is only working on access to the usual online gambling sites. If they do decide to block cryptocurrency platforms, they may face several technical and legal issues. Therefore, our team believes that they will not take such measures as Gamban. But as an option, GamStop may be able to introduce restrictions, such as the amount of currency that can be deposited or withdrawn as winnings.

It is worth noting that many cryptocurrency platforms have a decentralized system and use anonymous accounts. Therefore, it complicates the control of access to such platforms. In addition, if GamStop wants to have the authority to block crypto platforms, they must have legal permission. Legal aspects may vary from country to country and may require additional regulation.

In addition, GamStop operates in a specific region where the growth of cryptocurrency trading trends is increasing every quarter. This provides support and stability to many gambling platforms. Therefore, we believe that these reasons are enough to prevent the company from taking the same radical steps as Gamban.

The Bottom Line

Of course, there are always risks in the crypto area. However, we can now safely say that GamStop’s activities are not aimed at blocking cryptocurrency platforms. All users can continue to use both online gaming sites and cryptocurrency trading.

Gamban’s actions have scared everyone and made them wait with bated breath, but such an act requires a balanced approach. It also considers both user needs and security and regulatory measures. Therefore, in the case of GamStop, we can say that it will not happen anytime soon.