The LSLGA regulator in Nigeria, in collaboration with the FSGRN federation, has declared the crypto casino Stake an illegal operator in Lagos State and 24 other states within the federation.
According to regulatory authorities, Stake does not hold a license in any of the states and has ignored at least ten official notifications over the past two years regarding the necessity to register for tax purposes. This includes declaring and paying monthly gambling taxes and fees.
The measures will affect not only the operator but also payment companies, advertising platforms, and influencers that facilitate its operations.