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The government of Switzerland has announced that they will release a proposal for the second half of its administrative year which will lift the country's ban on internet gambling in order to regulate the industry.
The move comes as the Swiss Federal Administration announced that it will push forward after reviewing a consultation that was ordered on the European country's gambling laws.
In addition to lifting the ban on internet casinos, the Swiss Federal Council will use tax revenues brought in by regulated casinos to fund various social, sporting, and cultural projects in the nation of 7.9 million people.
The SFA also announced that it will also exempt betting gains from taxation, which would bring an equal playing field to cyber casinos as they would appreciate the same regulations that land based casinos enjoy.
The country's Federal Department of Justice and Police are also working with the SFA in all 26 of Switzerland's states in order to craft a betting law that would be "legalized and subject to the same regulatory conditions as the traditional offer".
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