AKIPRESS.COM - The Parliament of Mongolia reviewed and approved amendments to the Law on Licensing, submitted by the government, at the session on March 26, Montsame reported.

With the adoption of the amendments, all activities related to paid prediction, betting, and online gambling are completely prohibited in Mongolia.

Organizing paid prediction or betting games in public places or online for profit is now classified as a criminal offense under the Criminal Code.

Offenders face fines ranging from 2,700 to 14,000 basic units, mandatory community service from 240 to 720 hours, restriction of travel rights for six months to one year, or imprisonment for six months to three years.

Furthermore, repeated use of payment accounts, electronic money, virtual assets, telecommunications numbers, or electronic identifiers under one's own or others' names for organizing paid prediction, betting, or gambling activities is also considered a criminal offense.

Penalties include a fine of 450 to 5,400 basic units, community service of 240 to 720 hours, travel restrictions for six months to one year, or imprisonment for six months to one year.

Any individual who promotes or solicits paid prediction, betting, or gambling is subject to administrative penalties under the Law on Administrative Violations, including fines for violations or illegal advertising.

Special regulations concerning excise taxes on equipment used in paid prediction and betting activities, as well as provisions in the Corporate Income Tax Law, the Law on Personal Income Tax, and the Law on Supporting Small and Medium Enterprises and Services, have been repealed in connection with the ban on these activities in Mongolia.

The laws are set to take effect according to the standard procedure, reported the Media and Public Relations Department of the Parliament.