Australia will introduce a ban on the use of credit cards and cryptocurrency in online gambling
The House of Representatives of Australia has approved a bill banning the use of credit cards and cryptocurrencies for online betting and gambling.
This move follows a previous ban on using credit cards at land-based betting points and gaming halls.
Under the new regulations, any operator caught violating the ban will be fined approximately $150,000 for each such incident.
According to the government report, the offshore gambling zone results in the country losing about $1.9 billion in tax revenue annually—this offshore segment represents about 15% of the entire Australian market.
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