US-based online gamblers have been locked out of the popular Bitcoin casino SatoshiBet, leaving them with no other choice but to look for another gambling platform that still offers services in ‘the Land of the Free and the Home of the Brave’.
The Bitcoin casino made the announcement on Reddit, where it pointed out the rationale behind its decision to block all US-based IP addresses, stating:
“To be clear, we have not been in contact with any government institutions, this is solely a proactive measure as a reaction to the fast moving regulatory landscape of cryptocurrencies.”
According to the brand, their legal counsel advised them to avoid the US market to prevent any legal conflicts that may arise from the use of Bitcoin under the country’s jurisdiction. This may have been born out of Spain’s recent ruling that all Bitcoin gambling businesses must acquire licenses to continue operating legally within its borders.
Its exit from the US market, however, must not be perceived as an indication that Bitcoin gambling in the US is illegal, clarified by the statement released by the Bitcoin casino.
“This does not mean SatoshiBet or gambling with or without cryptocurrencies is illegal in the US. The definition by US courts is as of yet highly unclear, adding cryptocurrencies to the equation only further clouds a definite judgment.”
Unfortunately, this move cost the Bitcoin casino a 20% loss in terms of its traffic as it has been reported that SatoshiBet receives a significant following from the US.
This, however, seemed to have lesser value to SatoshiBet founder Adrian Scholz as he prioritized catering for the rest of its customers from other parts of the world. He, nonetheless, expressed possibility of reentering the US market, but if and only if lawmakers provide a clear legal landscape for Bitcoin and Bitcoin gambling.
On the other hand, Bitcoin casino players from the US may withdraw the remaining funds in their accounts by contacting the company.