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Yogonet

Five US states order to cease NFTs of metaverse casino with alleged ties to Russia that claims affiliation with Flamingo

U.S. state regulators of Texas, Wisconsin, Kentucky, New Jersey and Alabama simultaneously filed emergency orders Wednesday against a virtual casino they claim has ties to Russia and that has been operating in the metaverse, Flamingo Casino Club, which markets an alleged affiliation with Caesars' Flamingo Las Vegas Hotel & Casino. This follows a…

Innovation ・ 12 May 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

The US Sun

Metaverse 'gambling casino' NFTs BANNED by two US states in shock crackdown

TEXAS and Alabama have halted the sales of NFTs in metaverse casinos. Securities officials from both US states cited fraud and violation of state regulations as the reasons behind the ban. The Texas State Securities Board (TSSB) filed an Emergency Cease and Desist order that specifically mandated Cyprus-based Sand Vegas Casino Club to stop its sale…

Innovation ・ 23 April 2022

CoinGeek

Texas and Alabama halt sale of metaverse casino NFTs

The state securities regulators in Alabama and Texas have halted the sale of metaverse casino NFTs, saying that the people behind the scheme were fraudulent and violated state securities regulations. In its order, the Texas State Securities Board (TSSB) ordered Cyprus-based Sand Vegas Casino Club and its founders Martin Schwarzberger and Finn Ruben…

Innovation ・ 22 April 2022

Super Slots Casino

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Times Of Casino

Online Casino Stops NFT Sale Following a Regulatory Issue

NFTs have insinuated nearly every aspect of our lives, from arts and gaming to intellectual rights. However, there are no legal guidelines to instruct what can and cannot be NFTs, and some take advantage of such loopholes to evade legal limitations. One such incident caught the eyes of the state securities regulators in the United States last week.…

Law ・ 18 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

Crypto Briefing

U.S. State Regulators Aim to Shutter NFT Casino

Security regulators in two U.S. states have issued cease-and-desist orders against an online casino offering non-fungible tokens. Alabama's State Securities Commission reported that it has filed a cease-and-desist order against Sand Vegas Casino Club. The Texas State Securities Board has also filed a cease-and-desist order and published its own…

Law ・ 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

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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