Curacao Licensing Reform: What Operators Actually Need to Do

June 2024 · 5 min read · iGamingUK

Curacao remains the most commonly used licensing jurisdiction for sweepstakes and crypto casino operators, but the framework has changed materially. Here is what has actually changed and what it means for you.

The old model is gone

The previous Curacao framework, which operated through a small number of master licence holders who issued sub-licences to operators, has been replaced by direct licensing from the Curaçao Gaming Control Board (GCB). This is a fundamental structural change, not a cosmetic update. Operators who held sub-licences needed to transition to direct GCB licensing within defined timelines. Those who have not made this transition are in a legally uncertain position.

What the new framework requires

New Curacao licensing applicants face higher standards across several areas: ownership and UBO disclosure, source of funds documentation, technical system standards, AML framework documentation, and fit and proper assessment of key individuals. The application process is more demanding and more expensive than under the old model, and the ongoing compliance obligations are more substantive.

Is Curacao still the right choice?

For many operators — particularly crypto casino operators and those targeting markets without mandatory local licensing — Curacao remains the most practical starting point. It is faster and less expensive than MGA licensing, and more accessible than UKGC. But it is no longer the path of minimum effort. Operators who have chosen Curacao on the basis of outdated assumptions about the framework should review their position.

Banking and payment implications

One practical consequence of the Curacao reform is increased scrutiny from banking partners and payment providers. The new framework's higher standards provide some additional credibility, but the environment for Curacao-licensed operators in terms of payment processing access remains challenging. Choosing the right PSP relationships from the start — and maintaining them carefully — is increasingly important for Curacao-based operations.