New legislation would require crypto exchanges to block transfers linked to unauthorized betting platforms, expanding oversight of digital gambling.
Argentina’s proposed bill aims to extend compliance obligations to crypto intermediaries, including exchanges and fiat on-ramps, to identify and block transactions tied to illegal gambling sites. The measure targets offshore betting platforms that rely on crypto deposits as a primary funding method.
The legislation would broaden enforcement beyond online betting to any platform facilitating unauthorized gambling, including bans on advertising unlicensed operators. Penalties could apply to digital media promoting such services without verifying their authorization status.
Local authorities have already moved to restrict prediction markets, with a court ordering the blocking of Polymarket in March. The Buenos Aires City Lottery, a state regulator, initiated the action as part of wider efforts to tighten digital gambling oversight.