Oddbean new post about login | logout Australia cracks down on online gambling with crypto, credit card ban: https://yakihonne.s3.ap-east-1.amazonaws.com/953281df0361f1a7ff836841c2b978b8d606b035e7d07b8d148c72e50b4d78a7/files/1717853567025-YAKIHONNES3.jpg To protect its citizens from wasting money that they don’t have, the Australian government implemented a ban on using crypto and credit cards for online gambling. On June 11, The Canberra Times reported that Australia started to prohibit digital currency and credit card use for online gambling platforms.
The government warned betting companies that failing to comply with the new rules could result in a fine of up to 234,750 Australian dollars ($155,000).
The Australian government has implemented a ban on using cryptocurrencies and credit cards for online gambling platforms in an effort to protect its citizens from financial harm . The ban was enacted on June 11, 2024, and the country's communications watchdog has been empowered to enforce the new restrictions . The ban includes digital currencies and credit cards linked to digital wallets
