There were developments in Brazil as we entered a new year, with the Ministry of Finance revealing that 68 businesses have completed full licence applications in the market.
It begins a landmark period for the Brazilian market, with a federal framework being implemented in the country.
The Ministry revealed that a total of “150 licence requests from 145 companies have been submitted to SIGAP” – the data management and license coordination platform of the framework.
On 12 December, the SPA announced that it had initiated its final procedure to issue Bets licence authorisations for 71 “qualified businesses,” which were given a 30-day window to complete final steps, including the payment of concession fees.
The 68 businesses that have received full authorisations will operate a total of 300 unique brands (though not all brands have been disclosed).
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The last orders issued by the SPA stated that licensed businesses should register their payment and auditing systems with the Financial Activities Control System (Siscoaf) if they are to be compliant with the anti-money laundering (AML), counter-terrorism financing (CTF), and ‘prevention of weapons proliferation measures’.
The full scope of licensed operators must request Siscoaf authorisation within 10 days of the official publication to allow their betting platforms to process Bets transactions with Brazilian consumers.
There were developments in Brazil as we entered a new year, with the Ministry of Finance revealing that 68 businesses have completed full licence applications in the market. It begins a landmark period for the Brazilian market, with a federal framework being implemented in the country. The Ministry revealed that a total of “150 licence