BC.Game Withdraws License from Curacao
Cryptocurrency gaming platform BC.Game has withdrawn its operating license from Curaçao.
BC.Game noted that Curaçao’s Bankruptcy Decree can be easily manipulated by unscrupulous entities against legitimate operators.
LISTEN TO THIS ARTICLE:The company’s decision to exit the market came after a court ruled it bankrupt in November for failing to settle outstanding player debts. The Curaçao Court of First Instance presided over the bankruptcy case which was initiated by The Foundation for the Representation of Victims of Online Gaming (SBGOK) in October.
Following the court ruling, BC.Game reassured its sponsorship partners, including Leicester City FC, that its financial position remains stable.
In its official statement regarding the license withdrawal, BC.Game emphasized that the decision will not affect its global operations, as it maintains separate gaming licenses in multiple international jurisdictions, though locations were not disclosed.
The company also expressed dissatisfaction with Curaçao's regulatory framework, stating that legal safeguards for operators remain insufficient, particularly in bankruptcy proceedings.
BC.Game noted that the antiquated Curaçao Bankruptcy Decree, dating back to 1931, can be easily manipulated by unscrupulous entities against legitimate operators.
Before the withdrawal, there were reports that the company could face a possible license revocation. It secured the Curaçao license earlier this year, adhering to the National Ordinance for Games of Chance (LOK) regulatory framework recently implemented by the Curaçao government.
More Business News
GCB Addresses Damning Allegations
BC.Game's exit from Curaçao comes on the heels of the Gaming Control Board's (GCB) response to corruption allegations surrounding the island's gambling licensing reform.
Luigi Faneyte, a member of Curaçao’s opposition Real Alternative Party, filed a report with the attorney general's office, accusing the GCB of corruption and financial mismanagement within the licensing framework.
Fayette also specifically targeted the finance minister, Javier Silvania, alleging that he had issued licenses without a legal basis.
The GCB refuted the corruption allegations, affirming its authority to oversee all licensing processes. The regulator noted that it has a rigorous evaluation process that includes website analysis, business plan reviews, and strict due diligence.
The GCB also denied money laundering claims, stating that all operator fees are paid directly into a government-controlled account.
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