#Gambler NFTs

FX Empire

OpenSea Delists Sands Vegas Casino Club NFTs after Cease & Desist Orders

It has been a mixed year for leading NFT marketplace OpenSea. In January, OpenSea saw trading volumes hit a record high before a sharp decline through February and March. NFT market conditions have improved in April, with OpenSea Ethereum (ETH) based NFT trading volumes already sitting above March levels. According to Dune Analytics, Ethereum-based…

Crypto ・ 13 June 2022

FX Empire

U.S Virtual Casino Sands Vegas Ordered to Shut Down for NFT Sales

Interest in NFTs and the Metaverse shows no signs of abating. Mainstream players have embraced Web3 and are busy exploring ways to incorporate brands into NFTs and the Metaverse to draw in consumers. Online gambling has gained significant traction over the years. The evolution of NFTs and the Metaverse offer online gambling platforms a new avenue…

Crypto ・ 13 June 2022

Online Poker Report

Shutting Down Crypto Casinos Like Playing Whack-A-Mole

Earlier last month, state securities regulators in Alabama and Texas issued cease-and-desist orders against a Cyprus -based company that's been hawking non-fungible tokens (NFTs). It was doing so to operate crypto casinos in the metaverse. The enforcement actions are both the first of their kind and likely not the last. In a particularly gray…

Crypto ・ 09 May 2022

JDSupra

Texas and Alabama Securities Regulators File Enforcement Actions Against Online Casino Developer Selling NFTs to Operate Casinos in a Metaverse

The Situation: State securities regulators in Texas and Alabama filed two first-of-their kind enforcement actions against a company selling non-fungible tokens ("NFTs") to operate casinos in a metaverse. The Result: The cease and desist orders issued against the company allege various state law violations, including making deceptive and misleading…

Innovation ・ 26 April 2022

Wild Casino

$5,000 Welcome Bonus

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JDSupra

Texas Securities Sheriff Wrangles Metaverse Gamblers

Securities law enforcement entered the metaverse recently in the form of an emergency cease and desist order issued by the Texas State Securities Board against individuals and a company using NFTs to finance multiple metaverse casinos. Much like Wyatt Earp busting into the O.K. Corral, this one gets interesting. The order alleges a high-tech…

Innovation ・ 22 April 2022

Beat The Fish

Sand Vegas Online Casino Issued Cease & Desist for Selling NFTs

The concept of the metaverse has been trending lately in the online gambling world, with plenty of poker pros and cardrooms getting involved with NFTs and all sorts of other pursuits in the virtual world. One site, Sand Vegas Casino, may have taken things a bit too far, though, as the site has been issued a cease-and-desist for selling NFTs. If…

Crypto ・ 15 April 2022

Times Of Casino

State Regulator Orders Online Casino to Stop Selling NFTs in Texas

The states' war with DeFi continues as one online casino was accused of security fraud. The state regulators in Texas and Alabama ordered Sand Vegas Casino Club to shut its NFT business. The casino is reported to have been selling securities illegally under the guise of NFTs. The casino operators went off the grid following this accusation by the…

Law ・ 14 April 2022

Vegas Slots Online

Regulators Order Virtual Casino Firm to Stop Selling NFTs

Securities regulators in Alabama and Texas have ordered a virtual casino firm to stop selling non-fungible tokens (NFTs). The regulators alleged on Wednesday that by illegally offering unregistered securities, the company was defrauding people. an effort to raise funds to build metaverse-based virtual casinos The firm in question, Sand Vegas Casino…

Crypto ・ 14 April 2022

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USA

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Texas

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Las Vegas, USA

CoinDesk

Texas, Alabama Securities Regulators Block Sales of ‘Metaverse’ Casino NFTs

Cyprus-based Sand Vegas Casino Club, not to be confused with Sheldon Adelson's Las Vegas Sands, has been ordered by securities regulators in two U.S. states to stop selling NFTs that promise a cut of profits from casinos on Metaverse platforms. Sand Vegas Casino Club is using part of the proceeds from the 11100 "Gambler" NFTs to purchase land in…

Innovation ・ 14 April 2022

PYMNTS

Virtual Casino Firm Ordered to Stop Selling NFTs

Securities regulators in Texas and Alabama on Wednesday (April 13) have ordered Cyprus-based online casino developer Sand Vegas Casino Club to stop selling nonfungible tokens (NFTs), saying the company was offering unregistered securities and defrauding the public, according to a Reuters report. Sand Vegas and co-founders Martin Schwarzberger and…

Crypto ・ 13 April 2022