Crypto Makes betting Markets Regulation Impossible

James Porteous, the HKJC’s senior due diligence & research manager , Has criticized the role of Crypto and has said that the betting markets and operators are easily able to manipulate data from their websites using tren models with the help of Crypto payments , He said the regulatory bodies are not able to track the movement of Crypto funds easily and said that these option provides easy options for illegal betting on sports platforms and also money laundering options directly for people involved in bad things as well actually

 

[CR7]

James Porteous raises valid concerns about the potential risks associated with crypto in the betting markets. It is true that the decentralized nature of cryptocurrencies can make it challenging for regulatory bodies to track and monitor the movement of funds effectively. This lack of oversight can create opportunities for manipulation of data and illegal activities like money laundering.

By utilizing crypto payments, betting operators could potentially bypass traditional financial regulatory measures, making it easier for them to engage in illicit activities without being easily detected. The use of trend models to manipulate data on websites could further exacerbate the risks of unfair play and manipulation in the betting markets.

Porteous's criticism underscores the need for stronger regulation and oversight in the intersection of crypto and betting markets. Regulatory bodies must stay abreast of technological advancements and implement appropriate measures to mitigate the potential risks associated with crypto in the gambling industry.

Ultimately, a balance needs to be struck between embracing innovation and technology while ensuring the integrity and security of betting markets. Collaborative efforts between regulatory bodies, industry stakeholders, and technology experts are necessary to address the challenges posed by crypto in the realm of sports betting.

 

[Qwert135]

That is correct there should be balance between the allowance of such transactions because they can easily harm the individuals so they should be controlled and allowed in a limited manner always actually indeed