UKRAINIAN PARLIAMENT ALLOWS GAMBLING
Asters, Kyiv, Ukraine,
July 20, Tue, 2020
On 14 July 2020, the Parliament of Ukraine adopted the Law "On State Regulation of Activities on Organising and Conducting Gambling" (the "Law"), which provides for permission and state regulation of gambling in Ukraine. Thus, the total ban on gambling, existing since 2009, will be lifted soon.
The Law introduces comprehensive regulation of gambling and provides for:
1) exhaustive list of gambling activities;
2) licensing gambling activities with a fee depending on location, type, etc.;
3) compliance of gambling equipment with international standards;
4) requirements for organizers of gambling activities, including financial conditions, to ensure their financial stability and guarantee the prize payments;
5) establishment of a regulator, the Commission of the Gambling Games Development and Regulation, responsible for licensing of gambling, maintaining necessary registers, establishing certification requirements for gambling equipment, etc.;
6) online monitoring system to ensure the state control over gambling;
7) financial, administrative and criminal liability for violation of laws and regulations on gambling.
Except for certain provisions on criminal liability, online monitoring system and equipment certification, which are deferred for terms from 1 month to 2 years, the Law will become effective after its signing by the President of Ukraine and official publishing, which are still pending.