The National Bank of Ukraine introduced a ban on the use of credit funds to participate in online gambling in order to secure the financial system and protect the rights of consumers.
Combating risks
Decisive restriction of gambling
The regulator introduced measures designed to minimize threats from the operation of online casinos. The changes will come into effect on June 22 this year and include a ban on using credit funds to participate in online gambling. The move aims to secure the financial system, reduce the negative impact of online gambling and promote responsible consumer lending.
Legislative basis
The new rules were adopted by the NBU Board in accordance with Resolution No. 72 of 21 June 2024. The document amends Resolution No. 18 of February 24, 2022, regulating the use of credit funds in online casinos.
Presidential initiatives
The decision of the National Bank is consistent with the decree of the President of Ukraine No. 234/2024 of 20 April this year. This decree implements the decision of the National Security and Defense Council on countering the negative consequences of online gambling. Key measures include limiting gambling advertising, blocking illegal sites, and banning military personnel from visiting gambling establishments.
Temporary restrictions
The introduced restrictions will be in effect until the law on combating gaming addiction, which is currently being considered by the Verkhovna Rada, enters into force. The government also completely banned the advertising of online casinos on the Internet, changing its previous decree.
Glossary
- National Bank of Ukraine (NBU) - the central bank of Ukraine, which carries out monetary - credit policy and ensures the stability of the banking system.
- The Council of National Security and Defense of Ukraine is a coordinating body on issues of national security and defense under the President of Ukraine.
- Verkhovna Rada is the only legislative body in Ukraine.
- The Cabinet of Ministers of Ukraine is the highest body in the system of executive authorities of Ukraine.
Link
- Notice of the NBU on the ban
- NBU Board Resolution No. 72
- Bloomberg article on game addiction among the military
Answers to questions
What did the National Bank of Ukraine do about online casinos?
Why was this ban introduced?
What other measures have been taken to limit gambling in Ukraine?
What role does the Verkhovna Rada play in regulating gambling?
Why did the military of Ukraine become part of the discussion of the problem of gambling?
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Discussion of the topic – The National Bank prohibits the use of credit money in online casinos: how will it affect players?
The National Bank of Ukraine will introduce a ban on the use of credit money in online casinos from June 22, 2023. This decision is aimed at minimizing risks for the financial system and protecting consumers from excessive debt.
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Денис
Indeed, the restriction of online casinos has become a necessary step. Gambling addiction among the military and civilians is a serious problem 🚫🎰
Наталія
I believe that banning the use of credit money in online casinos is a wise decision. This will help people avoid getting into debt and financial problems due to irrational spending 💰
Григорій
It seems to me that a total ban is not the best solution. People will still find ways around it. Better to focus on regulating and restricting gambling advertising 🤔
Катерина
I support these government initiatives. Gambling addiction is a serious problem, especially for the military. They must remain focused on their duties. And online casinos only distract them 💂♂️
Олег
Good intentions, but in practice everything will not be so simple. People still find ways around the restrictions. Perhaps more attention should be paid to awareness and education about the risks of gambling 🤷♂️
Юрій
Well, it's all nonsense! 👎 People themselves should decide how to spend their money. Who gave the state the right to ban something? This is simply the imposition of someone's will. I am categorically against such restrictions! 😠
Ганна
Yuri, I understand your position. But gaming addiction is a serious problem that destroys the lives of many people. Therefore, the state must act in the interests of its citizens. Restrictions on online casinos will help protect vulnerable sections of the population 🙏
Денис
I agree that a complete ban is not an option. But regulating and limiting advertising is a step in the right direction. For example, a friend said that her nephew managed to lose a considerable amount in an online casino because of an advertisement on YouTube 😔