# News & Speculation


New federal regime for cryptocurrencies comes into further focus

Gaming Counsel, March 29, 2014

This past week, two sources of information became available indicating how the Canadian government will increase its regulation and oversight of virtual currencies, including bitcoin. Through a combination of legislative and regulatory changes, Parliament and the Financial Reports Analysis Centre of Canada—Canada’s financial intelligence unit—will wrap “dealers” in virtual currencies into the current money services […]


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Plaintiffs keep rolling against defunct bitcoin exchange

Gaming Counsel, March 24, 2014

On March 14th, lawyers for four plaintiffs filed suit in Toronto against Mt Gox, the bitcoin exchange embroiled in ongoing scandal. Defendants include several corporations in the Mt Gox Group of companies and Mark Karpeles, a majority shareholder in those companies and Mt Gox’s CEO. The notice of action for the lawsuit is here. Among […]


Robert Goldfarb, March 19, 2014

Ed Miller’s latest book, Poker’s 1% reveals the secret of poker’s most elite players.  The book exposes this secret in one word: frequency. Ed states that the biggest winners in no-limit hold ’em know that winning play requires playing each hand with the proper frequency. He demonstrates how playing hands correctly and applying this knowledge makes your […]


Federal Budget contemplates introduction of new regulations

Gaming Counsel, February 27, 2014

The Canadian finance minister, Jim Flaherty, presented the federal government’s 2014 budget plan to Parliament on February 11th. Cryptocurrencies played a small part in the budget, though still an important one for Canadian businesses in the sector. Bitcoin and other cryptocurrencies are addressed under the heading “Strengthening Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime.” The relevant […]


Undated internal FIU document looks at the issues and ideas around cryptocurrency

Gaming Counsel, February 13, 2014

On February 11th, David George-Cosh broke the story of the release of an undated internal document produced by FinTRAC addressing the challenges of cryptocurrencies, primarily bitcoin. FinTRAC is Canada’s anti-money laundering and counter-terrorist financing watchdog. The document is a slide deck that was produced further to an Access to Information Act request. The WSJ blog post on […]


Unlicensed and unregulated at the dawn of a tech-fueled boom era

Dan Michalski, February 11, 2014

Call it lo-tech, but I bought an actual paper magazine on the way home from Christmas, Popular Science, which lured me with its cover story, “Predictions for 2014”. Semi-fascinating stuff regarding 3-D printing, a looming crackdown on opiate painkillers, and a right-around-the-corner future filled with bots — the good kind, apparently, not ones that threaten […]


Charlie Shrem & Robert Faiella face federal charges; markets shrug it off

Gaming Counsel, January 27, 2014

Preet Bharara, the US attorney for the Southern District of New York, today announced the unsealing of a federal criminal complaint against Robert Faiella and Charlie Shrem. It’s alleged that Faiella ran an underground bitcoin exchange on Silk Road. Shrem is well-known in the bitcoin community as the CEO of BitInstant and the Vice Chairman of […]


Online gaming legislation has to eventually get there

Dan Michalski, January 14, 2014

PokerStars, the biggest most legitimate online poker site in the world, which got that way by thumbing its nose at the US government for their stupid laws, has gotten the big X in Nevada, and in New Jersey … so where to next? According to my personal Linked In recommended jobs feed, the less pokery-sounding […]


Winter specials galore

Jeremy Henderson, January 10, 2014

Gone are the days when going to casino resorts with the family meant endless days spent at buffets and boring nights spent cooped up in cold hotel rooms with cranky kids and a dissatisfied spouse. These days, besides playing hosts to venerable World Series of Poker players, casinos are pretty family-centric now and gambling enthusiasts […]


Adverts driving normalization (and re-normalisation) of American game

Robert Goldfarb, December 16, 2013

All three of these companies’ ads are in heavy rotation on the Trenton, NJ, transit station video displays like they belong. (Take that Bill Frist!)


Postcards reveal what remediators may or may not know about you

Dan Michalski, November 14, 2013

If you had cash on Full Tilt shortly before Black Friday, you’ve got until this weekend to inform government contractors that you’d like your money back, please. Check out what I got in the mail recently from the poker world’s new-good friends at Garden City Group, who are handling Full Tilt remissions on behalf of […]


Recent judgment finds the lottery monopoly within the law, not deceiving consumers

Gaming Counsel, November 11, 2013

In an interesting decision out of Montreal, the Quebec Superior Court very recently found in favour of Loto-Québec in a claim against it by two Quebec residents. A copy of the judgment is here. The plaintiffs alleged that certain limited outputs of the algorithm used to generate lottery selections in Quebec’s ‘Extra’ lottery add-on product […]


CRA issues first release on how it will approach virtual currency

Gaming Counsel, November 7, 2013

The Canada Revenue Agency (the Canadian equivalent of the IRS) just issued its first release on how it will treat virtual currencies for taxation purposes. There is not much new here — the CRA sent an e-mail to the CBC back in April about bitcoin taxation — and the government leaves several questions unanswered. Still, it’s an […]


New study says online difference is more than just six points in Words with Friends

Dan Michalski, October 16, 2013

Do we call it gaming or gambling? I think we all know the casino industry would prefer we call it “gaming”, but for poker players that’s sometimes kinda hard when you see your heroes on the TV holding second pair and a gutshot only to be shouting “gamble gamble!” after an all-in and a call. […]


Snapshot of WSOP.com semi-direct marketing efforts in Nevada

Dan Michalski, October 13, 2013

Want a sense of the new world we’re seeing here in Nevada, thanks to licensed and regulated online poker? Game-wise, the combo of WSOP.com and Ultimate Poker is still hardly a shell of the glory days of PokerStars and Full Tilt. But what is different is the way online poker is showing up around town […]