Ron Mendelson is the Director of Fast Offshore, an International Business & Corporate Services consultancy firm with a multidisciplinary, cross-border approach. He has been guiding online gambling operators for almost 25 years with iGaming Licensing and Payments, Regulatory Compliance, Tax-Efficient Corporate Structuring as well as Cryptocurrency and Blockchain related services. With a portfolio of clients spanning continents and multiple sectors, Fast Offshore offers a professional, fast and reliable service that places a focus on transparency and cost-efficiency. Whether you’re an entrepreneur, a startup or an established business, Fast Offshore can help you achieve your business goals, optimize and fine-tune your corporate structure. with you. As cryptocurrency becomes more established, it is likely the volatility issue will stabilize and we will see less in the way of wild price fluctuations. SLOWMAINSTREAMADOPTION: While the uptake of cryptocurrency is increasing day by day and some one billion people are estimated to use it around the world, there is still a long way to go. There is still plenty of caution around cryptocurrency and many are still hesitant to use it. But as crypto is more widely used in eCommerce, trading and investments and, of course, online gambling, updates will grow holistically and running a crypto casino will no longer be considered a risk. Likewise, some players may be hesitant to switch to crypto as they may fear they cannot use their coins elsewhere or that a currency might become obsolete. CRIME RISKS: Cryptocurrency brings with it a risk of financial crime such as money laundering, but so to does fiat. Due to crypto’s decentralized and anonymous nature, there are risks related to it being misused and not passing through the regular checks and balances. Many jurisdictions are working to implement due diligence and compliance processes to manage the risks and instill confidence in the sector. It is also the obligation of operators to conduct checks and elements of due diligence to make sure the platform is not being used for nefarious means. STILL IN ITS INFANCY: Cryptocurrency is still a new technology, and it will continue to develop with exciting innovations and even changes afoot. How we interact with crypto today may be different from how we do in one year or five years, and we should be prepared for that. The main point to remember, however, is that crypto is here to stay and is used by many people, therefore, crypto gambling is absolutely worth your consideration. If you are thinking of applying for an offshore betting license, we would advise you to consider incorporating cryptocurrency into your product. Fast Offshore has been working in iGaming and corporate services for over 25 years and crypto for over a decade. This puts us in a position where we can give you comprehensive advice on how to incorporate cryptocurrency into your online casino or betting site. We can assist with acquiring your gaming license, incorporating and setting up all the necessary corporate structures, and helping you provide cryptocurrency payments through your site. 33 G P W A t i m e s . o r g
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