The government is taking this measure in an effort to curb the proliferation of online casinos and the resulting rise in personal bankruptcies. 
Additional authority to enforce restrictions has been granted to the communications watchdog. A parliamentary investigation into gambling recommended that the federal government phase out gambling advertising over three years. The government is now considering this proposal. 
Responsible Wagering Australia director Kai Cantwell urged the government to broaden the prohibition to encompass all forms of gambling. If these regulations are limited to online casinos alone, he says, players will simply find another place to use cryptocurrency, play for fun, and lose their money. 
The Australian Taxation Office (ATO) and the Indonesian Taxation Department (DGT) have already inked a memorandum committing them to sharing information about digital asset holders in an effort to catch those who try to avoid paying their fair share of taxes.

Cryptocurrencies used in gambling are now illegal in Australia.

Blocksays

Other articles published on Jun 13, 2024

Toncoin Price Soars 8% As It Flips Ethereum In Active Daily Users, And Analysts Say This New Game...

Shiba Inu Price Prediction: A Setback or a Chance to Buy Low

SEC Chair Gensler Signals Potential Ether ETF Approval by Summer End

'Dogecoin Killer' Shiba Inu Trades In The Red Despite Broader Market Surge — Here Is What These K...

Iggy Azalea Makes Shocking Revelation About MOTHER Project, Here is Why This Crypto AI Token Stan...

TOPGOAL’s New Era: An AI-Powered Sports Autonomous World for Everyone

Join our free newsletter for daily crypto updates!