Australia banned bitcoin gambling

Australia banned bitcoin gambling


The northern territory of Australia Race Committee gaming regulators (NTRC) has released an unofficial ban, ban cryptocurrencies all online gambling, and particularly bitcoin and etheric fang. Just a few days ago, an online gambling site license they announced that it is providing bitcoin to its customers.

Neds accept bitcoin gambling

Australia online gambling sites, CEO of Neds PaulCherry said: “we believe bitcoin currency and encryption is a feasible and secure online transactions. With this announcement, we want to ensure that those who share with us the positive attitude of the Australian currency encryption can use them and we bet.”

“We have been proud to be a technology company,” he said. “We are not only sports and race enthusiasts and Gambling company, we are programmers, analysts and computer fans, so this is a natural step for us. And we think that there are a lot of cross into the target market (money market encryption).”

Australia Brisbane because of its online gambling sites to accept bitcoin and received a lot of notice. As the first case of the continental countries, Neds even plans to join the currency substitution. Neds also claimed that more than 2% users will bear the transaction costs.

Neds received a license in the autumn of last year, and prepare all bets are using bitcoin, from the bet to the final exit. Cherry said thoughtfully: “this is a technical solution, we see ourselves as technical personnel, so we put bitcoin or other encryption currency integrated into our platform seems very appropriate. Many people may be some immature investors, they obtained some bitcoin in recent speculation, they may not know how to deal with these bitcoin.”

Regulators issued a ban

Then, all collapse in a few days. As of press time, the website is redirected to the official platform of it, all bitcoin tracks seem to have disappeared, including its search function. Earlier, there is such a warning on this page: “our website is currently offline, waiting for further instructions NT competition committee.”

In an e-mail in AustralianFinancialReview area, NTRC gaming regulators said, “it is going to issue a formal notice to all Gambling company and sports betting exchange operators, if they are currently using encryption currency (such as bitcoin transactions, etc., the etheric Fang) should immediately cease and terminate the transaction.”

No matter what the reason, the Australian government has local media called “a hostile stance” encryption currency, so far, for those who can be authorized, in line with international competition gambling institutions of the people, this is a limitation: radio advertising is limited to poker and other games. The enterprise of the similar email unresponsive, often lose the advantageous tax advantages, will also lose their license.

At the same time, Neds will continue to provide the use of legal currency bets for its online customers in australia.

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