Cryptocurrencies could be rejected in Australia

Australian gaming regulators are debating the future of iGaming bets with cryptocurrencies.

Australia.- The online gaming industry in Australia could be further regulated with new laws controlling cryptocurrencies. Although the online bookmaker Neds has recently begun its legal operations in the market, the Australian Financial Review, the Northern Territory Racing Commission could stop the business.

According to the local press, the governmental institution has sent last Friday a national warning to current operators to avoid the introduction of plans to add cryptocurrencies in legal online gaming services. The gaming authority could soon ban completely the activity, eliminating the license Neds has obtained recently.

“The chairman of the Racing Commission … is intending to issue a formal communique to all sports bookmakers and betting exchange operators licensed in the NT if currently transacting in cryptocurrency (for example Bitcoin, Ethereum and the like) for their wagering operations to immediately cease and desist,” stated the the Australian Financial Review, the Northern Territory Racing Commission’s email sent to all legal operators in the country.

The licensed gaming bookmaker, Neds, has released its online casino platforms for Australian players to participate in the market through Bitcoin services. Neds operates sports betting services throughout the country. Its iGaming operations could soon be stopped through the gaming authority’s resolution.

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australia cryptocurrencies igaming legislation online casinos