SectorWire
SearchGet the daily briefing
Menu

Brazil enacts joint liability for payment firms serving unauthorised betting operators

Regulation

Brazilian President Lula sanctioned Complementary Law 224, making financial institutions and payment systems jointly liable if they process transactions for unauthorised betting operators after notice from the Finance Ministry. The law also raises betting tax gradually from 12% to 15% by 2028; it does not specify enforcement procedures or compliance deadlines for payment transactions.

Operators and payment providers face additional legal exposure after the Finance Ministry issues notice.

Request a correction

Keep reading

Regulation

Quaest poll puts bets and social media at 7% as source of hope nationwide

A Quaest poll found that 16% of respondents who were optimistic about Brazil's future cited regulation of betting and social media as a source of hope under President Luiz Inácio Lula da Silva. That group represented 44% of respondents, making the combined issue about 7% of the full sample; the poll did not separate betting from social-media regulation. The survey interviewed 2,004 people from 30 October to 2 November.

Continue reading