India’s Betting-App Ban Will Stoke Money Laundering
This ban will create new headaches.Photographer: Pankaj Nangia/Getty ImagesIndia has stunned its online gaming industry by moving legislation to ban real-money stakes. At first blush, the reasons for hitting the kill switch appear valid. Rising addiction, money laundering and financial frauds through these apps are all serious problems.However, I wonder if policymakers have thought through the implications. All that prohibition ever does is to push users toward moonshine — in this case offshore ...
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