Prospects for cryptocasino - Ecuador

Shortly

Crypto in Ecuador is not legal tender, and crypto accounts are not allowed in the national payment system. This automatically complicates the legalization of "cryptocasino," even if online bets as a whole received a "white" frame.

In 2024-2025 the country whitewashed online forecasts: a 15% GGR tax and a 15% deduction from winnings, a single LOPD license from the Ministry of Sports, plus the lifting of the ban on betting advertising - this is an important foundation, but it does not cover cryptocasino and non-trading online games.

Discussions on the return of offline casinos through a referendum (as elements of 5-tourism) show political interest in the gambling topic, but the legal trajectory remains ambiguous.

1) Regulatory starting point: crypto and payment system

The Central Bank and the Ministry of Finance explicitly indicate that cryptocurrencies are neither legal tender nor a permitted payment method in Ecuador. Banks and payment institutions cannot process such transactions. Therefore, "on-chain" deposits/withdrawals are not possible for a locally licensed gambling product without a separate special mode. This is a key stop factor for "cryptocasino" as a class.

2) What is already "in the white zone" online - and why it is important for scenarios

Tax framework: from July 1, 2024 - 15% of GGR for operators of online sports forecasts; for players - 15% deduction with winnings. In the first half of the year, 2024 65 companies registered as payers - a sign of market institutionalization.

Licensing: Decree No. 487 (December 2024) introduced the LOPD license (5 years, a significant annual fee), fixing the requirements for operators.

Advertising: in October 2024, the ban on advertising bets in the media was lifted, which legalized brand visibility and sponsorship.

State platform: Bet593 remains an indicator of the "white" segment on the part of the state.

Conclusion: Ecuador has already proven the ability to build a "transparent" online segment (in terms of sports forecasts). This increases the chances of further development of regulation - but does not remove crypto barriers.

3) Where is the "bottleneck" for cryptocasino now

1. Payment status of the crypt. Without recognition of crypto accounts (or special mode), a locally licensed operator cannot legally accept deposits/make payments in cryptocurrency.

2. Subject of license. LOPD regulates pronósticos deportivos; full-fledged iCasino verticals (RNG slots, live tables) require separate standards (RNG/live studio certification, reporting, RG/AML).

3. Supervision and AML. Crypto payments will require "bank" KYC/AML rules: checking the source of funds, monitoring transactions and allowed networks/providers (whitelist). Without this, supervision loses its effectiveness. (Inference based on a common AML approach combined with local crypt constraints.)

4) Scenarios 2026-2030

Scenario A: "Token - no, stable - also no." Conservative trajectory

The state does not touch the payment status of the crypto: crypto casinos remain outside the "white" perimeter, and the local market is growing in fiat online mode (LOPD + 15% GGR + advertising). In this scenario, it is possible to legalize iCasino verticals in fiat (separate licenses/standards), but without crypto calculations.

Scenario B: "Restricted Crypto Corridor." Pilot with stablecoins

The state can introduce a narrow payment corridor for regulated stablecoins (for example, only custody from licensed providers, KYC Tier-2 +, on-chain analytics). This will require a joint regulation of the Ministry of Finance/Central Bank/game regulator and does not contradict the general fiat model of taxation (GGR and deductions remain in USD). The risk is higher, but controlled. (Political and regulatory forecast based on the current "whitening" of online and crypt restrictions.)

Scenario C: "Cryptocasino as an Export Service"

Allowing crypto payments only for non-residents (export), with the prohibition of domestic marketing and the calculation of taxes in USD. Requires strict geofiltration, proof-of-non-residency, reporting by jurisdiction. High administration complexity - but potential foreign exchange income. (Analytical scenario; reliance on the 2024-2025 general fiscal framework.)

5) Economic impact and risks

• The growth of fiscal revenues (GGR, license fees, VAT in affiliated chains), as already seen from the registration of operators in 2024.
• Localization of workplaces (compliance, risk analytics, IT, anti-fraud, responsible gaming).
• Transparency of sponsorships and media budgets after the ad ban is lifted.

• Social: increased engagement among vulnerable groups - limits needed, self-exclusion, RG fund.
• Payment: until the crypto status changes, "on-chain" remains outside the banking infrastructure.
• Legal: without clear rules for iCasino and crypto - regulatory arbitration (going offshore).

6) Roadmap "if tomorrow they decided to go to crypt"

1. White Paper (Ministry of Finance + Central Bank + Ministry of Sports): status of permitted payment instruments (stablecoins/custom), ordering rules, conversion to USD for taxation.

2. Separate license classes for iCasino (RNG, live) + provider registry and certification.

3. AML/CTF circuit: KYC Tier-2 +, on-chain analytics, limits, address/network reporting, whitelist providers.

4. RG framework: deposit/time limits, age 18 +, self-exclusion, harm markers, hotline.

5. Marketing code: ban on targeting the vulnerable, RG watermarks, time/frequency restrictions.

7) What the industry should do now

Operators: build "fiat compliance" according to LOPD (taxes 15% GGR, deductions 15%, reporting), prepare the iCasino module for the future norm (certification, RG/AML), and keep the crypto track "in draft" until the change of payment status.

Payment providers/banks: work out scenarios of a stable corridor with a strict compliance framework (if the state gives the green light).

Media and clubs: use permitted advertising within RG; do not mix "gray" crypto-offshore with "white" local brands.

On the horizon 2026-2030, cryptocasinos in Ecuador are possible only with a change in the payment regime for cryptocurrencies or the launch of a strict "stable corridor." In the meantime, the country is betting on fiat online: 15% GGR tax, deductions from winnings, LOPD license and permitted advertising. This strengthens the market, but does not open the door to a "clean" crypto game without additional reform. It is rational for a business to prepare a compliance infrastructure for iCasino and keep the crypto model in the status of a scenario plan - until the regulator updates the rules.