Australian authorities are taking a massive step, aiming to ban the use of credit cards and crypto in online gaming, with operators who contravene the move facing fines of up to $150,000.
According to reports, a bill has been introduced to the nation’s parliament which would effectively build on the current prohibition of the use of both plastic and digital currencies in land-based gaming.
The nation’s Communications Minister clarified the issue by stating that “People should not be betting with money they do not have”.
The proposed legislation is wide-ranging, also granting powers to prohibit future credit-linked products that might emerge.
In addition, only six months are allotted as a transition period before operators’ compliance can be tested.
Expectations are for even further regulatory changes when top ministers convene later this year.