Bulgarian fintech firms poke holes in gambling fee cap

Fintech firms say a gambling payment fee cap could breach EU law and place pressure on the industry. The Bulgarian Fintech Association (BFA) has demanded the removal of a proposed state levy on gambling transaction fees exceeding 1.5%. The proposed Gambling Act amendment would require financial institutions to surrender excess revenue, with any fees over 1.5% on gambling transactions going to the state, as reported by SBC News . Under this model, if a user deposits €1,000 and the payments platform charges a €30 fee (3%) for the transaction, it could keep a maximum of €15 (1.5%) as revenue before…