Australia Bans Crypto And Credit Cards For Online Gambling

Australia Bans Crypto And Credit Cards For Online Gambling


Published Tuesday 11th June 2024

Australia recently made a significant move by banning the use of credit cards and cryptocurrencies for online gambling. The decision was made to protect citizens from potential financial harm that can result from excessive betting. This ban is intended to help curb the growing issue of problem gambling and prevent individuals from accumulating debt through online betting activities.

Individuals and companies in Australia are required to comply with this new regulation, with fines of up to $155,000 for those who do not adhere to the ban on using credit cards and cryptocurrencies for online betting. The hefty fines serve as a deterrent to ensure strict enforcement of the ban and to hold accountable any entities that attempt to bypass the regulations set in place to protect consumers from financial risks associated with online gambling.

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