Litecoin founder Charlie Lee: Poker and crypto are perfect together
Charlie Lee, the founder of the popular cryptocurrency Litecoin, loves cryptocurrency. He also loves poker. During a recent interview with Laura Shin of "Unconfirmed," Lee acknowledged that both are legitimate industries and asserted that it makes sense that the two would share the same space.
Lee explained, “With Bitcoin now, you can just transfer it to an online poker site and no one can stop you. So, it’s a better form of money where you actually have control over your own money." He added that it's only a matter of time before crypto is seen as the main form of payment for poker sites. Said Lee, “I think the reason why Silk Road, dark web markets and poker sites use Bitcoin or cryptocurrency is because it’s good money. And I think good money will win in the end. It’s not just doing illegal things. It’s more about having control of your money.
With regards to poker, Lee asserts that it is a game of skill, not a game of chance, as a number of opponents have tried to claim. While some jurisdictions have continued to try and suppress the poker industry, their efforts have been futile and poker - in particular, online poker - continues to thrive and grow as an industry.
Cryptocurrency continues to be embraced more by online poker operators, as well as legislators. In the UK, the UK Gambling Commission authorized crypto payments two years ago, as long as the operators were able to prove compliance with anti-money laundering regulations. The Winning Poker Network (WPN), of which ACR is a partner, has been a pioneer of crypto payments and was one of the first to accept digital currency from its users. As of recent statistics, 60% of the payments made to WPN sites comes from cryptocurrency.