The Dutch Gaming Authority, known as KSA, has issued a directive requiring regular penalty payments from FBC BV for unlawfully operating in the country through its website, FreeBitCo.in, without proper licensing.
The sanctions, set at €240,000 (equivalent to £198,100) per week, can reach up to a maximum of €840,000. This move aims to compel the unlicensed entity to discontinue its business activities in the Dutch sector.
Starting in January 2023, KSA conducted multiple investigations into FreeBitCo.in. During each review, an inspector successfully opened an account, made deposits, and engaged in gambling activities, which included sports betting.
The KSA’s inspector utilized Bitcoin to place wagers on two separate La Liga soccer matches across three investigations. No system was implemented to block participation from Netherlands-based users.
However, FBC BV, in an emailed response to KSA, described FreeBitCo.in as a “free giveaway website” offering Bitcoin winnings. The company also claimed it had blocked Dutch IP addresses to prevent access to gambling activities.
Despite these claims, KSA concluded that Dutch users could still gamble on the site, leading FBC BV to request an extension to halt all regulatory violations until September 2024.
The company attributed its inability to comply to technical issues and internal disagreements among board members and sought more time to rectify these problems.
However, a subsequent review by the KSA in November 2024 revealed that no corrective actions had occurred, prompting the authority to initiate the penalty order.
FBC BV, based in Curaçao, has objected to the KSA’s decision. Nevertheless, at the time of reporting, the penalty order remains active.
In another development, the Australian Communications and Media Authority (ACMA) has issued warnings to the operator for similar breaches involving unauthorized gambling services offered to Australian users.
Last month, KSA took action against two other unlicensed operators, Techno Offshore Limited and Novatech Solutions, which led Michel Groothuizen, chairman of the authority, to comment on their efforts to curb illicit activities.
“Unlicensed operators employ sophisticated methods. Some without a KSA license genuinely attempt to exclude Dutch players, but many disregard this altogether,” Groothuizen stated.
“With penalty payment injunctions, we rapidly halt unauthorized offers, and we can impose significant fines for repeated violations,” he added.
The full article titled “KSA issues penalty payment order against Curaçao-based crypto casino” was initially published on EGR Intel.