The Curacao Gaming Authority (CGA), aimed at regulating the offshore gambling industry, has now become the subject of investigation itself. The authority is facing a criminal investigation due to alleged "regulatory breaches," casting significant uncertainty on Curacao's efforts to establish a transparent and trustworthy regulatory system through the new National Gaming Ordinance (LOK).
Regulators Under Investigation: A Sudden Twist in the Reform Process
Curacao has long been a crucial legal jurisdiction for the global online gambling market, hosting thousands of licensed operators. The LOK, launched in 2025, was highly anticipated to replace the outdated and opaque "master license" system and usher in a new era of regulation. However, the CGA, the body responsible for implementing this reform, is now in the spotlight due to its own issues. According to a confirmation in a letter from the Curacao Financial Supervision Commission (Cft) on November 27, the Public Prosecutor's Office has initiated an investigation into the CGA. Simply put, the "referee" of regulation is now being scrutinized first.
Leadership Turmoil and Transfer of Power
The investigation is not without basis, as the CGA has experienced severe turmoil in recent months. The entire supervisory committee abruptly resigned in September, leading to a leadership vacuum within the agency. Subsequently, in October, control of the CGA was directly transferred to Prime Minister Gilmar Pisas, and regulatory responsibilities were stripped from the Ministry of Finance. These unconventional moves had already sparked speculation about internal management chaos and possible fraudulent activities within the agency. The initiation of the criminal investigation now confirms these long-standing suspicions.
Crisis of Trust and the Future of the Industry
The CGA was originally established to bring integrity and accountability to the Curacao gambling industry, to gain the trust of international banks, payment providers, and governments. However, the regulatory body's own corruption suspicions undoubtedly undermine this goal. Earlier, a recorded argument between the former Minister of Finance and the Director of the Tax Authority had already cast doubt on the management's integrity. This investigation forces international observers to question: how much trust can a jurisdiction, which struggles to maintain integrity in its own regulatory framework, still command?
(For updates on global gambling regulation and in-depth compliance analysis, follow the PASA official website's industry regulation column.)
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