Australia bans crypto use for online gambling

Australia has updated its online betting regulations to match those of land-based gambling, banning the use of credit cards and cryptocurrencies for online gambling, according to The Canberra Times. The industry was given a six-month transition period to adjust, with the full ban taking effect on June 11. Companies that fail to comply with the new rules may face fines of up to AU$234,750 (approximately $155,000).