PlayCity revoked the license of the Cosmolot online casino due to violations of payment regulations
The PlayCity regulator has decided to revoke the license of the online casino Cosmolot due to its use of peer-to-peer payments, which violates gambling regulations.
This was reported by the regulator’s press service.
In addition, financial sanctions were imposed on Spacix LLC for the violations identified. Specifically, a fine of 8.6 million hryvnias was imposed for the use of P2P payments. The company must pay an additional 4.3 million hryvnias for allowing players to fund their accounts using third-party cards.
The regulator emphasized that the gambling market must operate under uniform and transparent rules for all participants.
“The gambling market must operate under uniform and transparent rules for all participants,” the statement notes.
It also emphasizes that oversight of operators’ activities is carried out in accordance with current legislation, and sanctions, including license revocation, are applied in the event of violations.
Previously, the Ministry of Digital Transformation of Ukraine developed amendments to the legislation aimed at strengthening control and requirements for gambling operators. Following the conclusion of the public discussion, it is expected that the Verkhovna Rada will support the relevant initiatives.
As a reminder, a year ago a law came into force in Ukraine that launched the reform of the gambling and lottery market. The Ministry of Digital Transformation of Ukraine took charge of coordinating the changes, and the state agency PlayCity was established to implement the reform. Currently, the agency has summarized the first results of its work one year after the reform’s launch.
The documents are currently under public review. We expect the Verkhovna Rada of Ukraine to consider them this year.
PlayCity has issued a license to the Ukrainian National Lottery.
In 2025, PlayCity blocked over 2,500 illegal online casinos, according to Fedorov.
Here’s a reminder of when online monitoring of the gambling industry will launch in Ukraine and how it will work.
Until then, the market will continue to operate under the old schemes, where payouts are widely disguised as “deposit refunds,” the TSK reported.
