Australia Bans Crypto and Credit Cards for Online Gambling to Protect Citizens from Financial Risks

To protect citizens from financial risks, the Australian government has banned the use of cryptocurrencies and credit cards for online gambling. On June 11, The Canberra Times reported that Australia had implemented this ban, targeting online gambling platforms. Companies that do not comply with the new regulations could face fines up to approximately 234,750 Australian dollars ($155,000). The ban includes credit cards linked to digital wallets, cryptocurrencies like Bitcoin, and other new forms of credit. These measures align online betting rules with Australia’s laws on land-based gambling. However, there are exceptions, such as online lottery payments, which still allow the