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New Bill – New Authority: Bulgaria Abrogates the Current Regulator

27 July 2020, 12:19
Votes: 1

As Bulgarian gambling news informs, the country’s government has introduced a new bill that changes the authorized body responsible for the gambling industry.

New Bill – New Authority: Bulgaria Abrogates the Current Regulator

According to the decree, the existing regulator stops its operation, and its power goes over to the National Revenue Agency. In addition to this, Bulgarian license holders will have to follow new requirements that have come into force after the second reading of the bill.

The changes aim to clarify the regulator’s status

The government introduced the law in June. It had to get the approvals from several committees before its adoption after the first reading. The initial aim of the bill 054-01-51 was to put a new regulator in force, but it got several amendments, and, finally, the National Revenue Agency became an authorized body responsible for the gambling industry.

One of the bill supporters has emphasized that its goal is to make the regulator’s operation more transparent and improve the quality of its activity. Other changes that have also taken force are connected with operators’ licensing. Now, gambling companies will need to follow new capital requirements.

Read more: Gambling in Europe: legislative peculiarities and licensing

Read more: The detailed explanation of gross gaming revenue

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