Brazilian lawmakers are stepping up scrutiny of the country's illegal betting market as concerns grow over the financial, social and regulatory consequences of unlicensed gambling activity. A House committee recently held a workshop focused on the impact of illegal betting and the challenges involved in monitoring and controlling websites that operate outside the country's regulated framework. The discussion comes as Brazil continues to build out its newly regulated betting m

Uganda has removed a tax exemption previously available to land-based casinos, bringing physical casinos into the same 15% withholding tax regime that applies to winnings from online betting and gaming. The change follows a proposal by President Yoweri Museveni to amend the country's tax legislation and is intended to create a more uniform approach to the taxation of gambling winnings while reducing opportunities for tax avoidance and revenue leakage. The amendment addresses

Brazil is introducing a new safeguard for cryptocurrency transactions that will require regulated institutions to delay certain outbound virtual asset transfers for 24 hours before allowing them to proceed. The measure, adopted by the Central Bank of Brazil, is designed to give financial institutions additional time to identify potentially fraudulent or illicit transactions before digital assets leave their control and are transferred to foreign platforms or privately control

A network of companies based in the United Arab Emirates has been identified as playing a central role in financial structures used to move money connected to Iran, highlighting the continuing challenges posed by sophisticated shadow banking and sanctions-evasion arrangements. The networks have been used to facilitate payments linked to Iranian oil and other commercial activities while attempting to conceal the origin and destination of the funds. The structures identified by