- Australia has banned the use of cryptocurrencies in online gambling
- The ban came into effect on 11th June with the introduction of the Interactive Gambling Amendment (Credit and Other Measures) Bill 2023
- Other countries are, however, seeing increased popularity for crypto casinos, including the US and UK.
Inevitably, crypto adoption is on the rise.
However, different countries and jurisdictions are taking varied approaches to regulating crypto, including its use as a payment option in online casinos.
For example, Australia, one of the countries seeing rapid adoption of cryptocurrencies, has prohibited using crypto and digital asset-linked credit cards on online gambling sites. The ban came into effect last week.
But are there other countries where the use of crypto in online casinos is legal or allowed within existing gambling laws?
Australia bans crypto for online gambling
The Australian gambling industry entered a new era last week with the implementation of a government ban on the use of cryptocurrencies in online betting.
Australia has also banned using crypto-linked credit cards, which means online casinos are prohibited from accepting deposits from credit cards linked to digital wallets.
The ban came into effect after a bill on the same passed in the House of Representatives and Senate in 2023, introducing an amendment to the country’s Interactive Gambling Act 2001. This aligned Australia’s traditional and online gambling sectors, with both now banned from accepting cryptocurrencies.
According to authorities, the restriction on crypto use in the gambling market aims at promoting responsible gambling as well as addressing financial risks. However, gambling remains legal, with all traditional payment methods allowed.
The law outlines hefty fines, with non-compliance attracting up to 234,750 Australian dollars.
While you can no longer gamble online with your cryptocurrency in Australia, there are several countries where crypto casinos are legal. Some countries also allow offshore casinos to accept Bitcoin and cryptocurrencies, which illustrates the evolving landscape of crypto regulation.
Here are the top 10 countries where Bitcoin and other cryptocurrencies are popular, legal, and increasingly accepted in crypto casinos.
United States
While the crypto regulatory landscape in the US continues to evolve, it’s notable that…