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Brazil finance minister criticises online betting and warns over fintech links

Regulation

Brazil’s Finance Minister Fernando Haddad criticised online betting and said he would ban it if the decision were his. He cited concerns about young people, offshore platforms and money laundering, and said the government was developing a coordinated response involving federal police; the Central Bank was receiving information about financial institutions potentially linked to criminal activity.

Haddad’s comments signal scrutiny of fintech involvement and enforcement coordination in Brazil’s betting market.

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Regulation

Brazil’s finance minister backs betting regulation amid calls for a ban

Reportedly, Brazil’s finance minister supported regulating betting and strengthening controls. The minister stopped short of backing a gambling ban as calls for prohibition increased.

Dario Durigan, Brazil's finance minister, came out in support of regulating betting and tightening oversight of the industry, though he avoided endorsing a ban on gambling. According to him, public accounts do not rely on betting revenue to stay balanced. The rules, he added, have long been consolidated and were never meant to generate income.

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