Ukraine To Concider Regulated Policy For Gambling
Published: Thursday, January 11, 2007 Online-Casinos.com
UKRAINE TO CONSIDER REGULATED POLICY FOR GAMBLING
But no mention of online gambling sector in latest reports
The former Soviet republic of the Ukraine is considering a regulatory policy for gambling, according to media reports from the area. The reports are not clear on whether such a policy would embrace online gambling, however.
Reports are that the Finance Ministry has decided "...to seriously tackle and regulate the situation on the lottery and gambling market," which appears to be in legal limbo. The report reveals that in the first quarter of this year the Ministry means to submit legislation on lottery and gaming regulation in Ukraine.
The regional market apparently started forming in the early 90s, with the Ukrainian lottery sector populated by many different lotteries, taking advantage of a situation in which there are no laws to regulate the organisation and holding of this form of gambling. The only legislation that might regulate the sector concerns licensing conditions for economic activities "....approved by the common decree of the Finance Ministry and the State Entrepreneurship Committee in 2002," the Finance Ministry said.
The proposed new legislation envisages the establishment and application of a dedicated mechanism of state regulation in the gambling sphere, with a view to protecting the rights and interests of gamblers and preventing malpractice and fraud.
The bill proposes to classify types of lotteries, introduce licensing for lotteries and gaming, introduce registration for lotteries and set out effective control mechanisms and accountablility provisions.
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