Australia Banning Bitcoin

TY Bebo67,

I do remember seeing some lines (from BitcoinBabeAU on Twitter) and one or two articles saying that some (not all) Australian banks freezed accounts of some customers who recently bought crypto with their bank accounts.

In my opinion, nothing hints to Australia banning crypto. Instead, it hints to regulation which is sweet and good, no reason to fear at all. Just look at Japan and imagine every country embracing the environment as Japan does.

Cheers,
Denis
 
TY Bebo67,

I do remember seeing some lines (from BitcoinBabeAU on Twitter) and one or two articles saying that some (not all) Australian banks freezed accounts of some customers who recently bought crypto with their bank accounts.

In my opinion, nothing hints to Australia banning crypto. Instead, it hints to regulation which is sweet and good, no reason to fear at all. Just look at Japan and imagine every country embracing the environment as Japan does.

Cheers,
Denis
I agree 100% that it needs to be regulated. So many are taking off with peoples money. Even the big trading companies are not processing any payments or answering tickets. One person has waited over 30 days. It can't be trusted at the moment.
 
Just giving heads up, nothing has been officially confirmed yet, but it just " broke" in the bitcoin community that Australia will be banning it.
That’s crazy! It’s not their personal currency. Hmmmmm this can make bitcoin go way down since a lot of online gambling is through Australia. Sorry to hear this!
 
I saw the Meister article in the London Report 2018 https://www.casinomeister.com/gambling-news/ice-affiliates-and-compliance-2018/
and specifically about the comment in regards to Interactive Gambling Taskforce of the Australian Communications and Media Authority.

I had to do some digging about this because off course it affects me greatly.

ACMA can only notify the relevant international regulators if an operator in their jurisdiction is in breach of Australian law. So if the Operator is in Malta they would notify the Malta regulator and the only thing I can see them doing reading in their website and some paper online is to put a block on the travel for these Operator's directors and not allow them into Australia.

Old / Expired Link

It seems that maybe in the future ACMA would be the Australian agency working on to register interested business or give them a license to operate in AU.

I can't see anywhere any government agency in AU allowed to fine organizations overseas directly.

One of the articles I read mentions

Despite the expanded resources, it remains to be seen if the ACMA’s enforcement efforts against offshore entities, in particular, will prove effective. Indeed, the Explanatory Memorandum to the IGA Amendment Act3 suggests that it may be more realistic to expect a reduction in illegal or unlicensed online gambling (both onshore and offshore) being provided to Australians, rather than necessarily an increase in successful enforcement action against offshore entities. Indeed, the introduction of the IGA Amendment Act has resulted in many of the leading operators ceasing to provide services to Australia. Time will tell whether this effect is permanent, or whether the gap in the market will be filled by less reputable operators who perceive a market opportunity and are prepared to take the risk.

I just wish that we could have all these regulated in Australia like it is in the UK and the AU government would let us citizens use our freewill and play as it suits us.

Just sharing my thoughts with you guys

cheers
 
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I agree Teka, we should fight for it :)

I do hope that the government would wake up and do same as the UK .

It would be great if there was a licence AU could provide to online casinos.

I do not wish to go out to casinos as it is much safer at home.

Wake up Australia could get more money for the country this way as the government just loves taxing :rolleyes:
 
The local OPERATOR (not plural lol) Donates a great deal of money to the political party in power currently. they wont release the amount he donated till the end of the year (probably not ever, is my bet) because it was costing him huge losses, not to mention the amount of money land based casinos generated towards our growing deficit.
Yes Teka! I also did a great deal of research into the bill and came to the exact conclusion that you have. If you are not a casino licenced within australia, then they cannot do much at all. i mean theycan issue you all the fines in the world, but they have no power to enforce payment or any further convictions.
the only repercussion possible, is that they MAY be able to stop the casino licencee from entering the country in the future, MAYBE, if the immigration department decide to enforce it.

Though the banks involvement is a different story all together. who knows what they have agreed to. but slowly pulling all our options to deposit and withdraw is probably the only way they will win :(
I am seriously going to study politics and law next year when my daughter starts school.. I WILL CHANGE THIS BULLSHIT RUN COUNTRY!
 
Why they can't tax it? Was easy for so many other countries.
Don't know if that is the reason for the online ban. That documentary I saw in another thread suggested local operators are just too powerful.

I think your being overly generous with the Aus government.

Tax it -> some revenue for the government, some revenue goes abroad.

Ban it-> the Australian Government and their crony mates get ALL the revenue from the few remaining alternatives

Greed. Same in Canada. Who’d have though this is how “Liberal” governments operate - almost like the whole thing is one big con.....
 
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The local OPERATOR (not plural lol) Donates a great deal of money to the political party in power currently. they wont release the amount he donated till the end of the year (probably not ever, is my bet) because it was costing him huge losses, not to mention the amount of money land based casinos generated towards our growing deficit.
Yes Teka! I also did a great deal of research into the bill and came to the exact conclusion that you have. If you are not a casino licenced within australia, then they cannot do much at all. i mean theycan issue you all the fines in the world, but they have no power to enforce payment or any further convictions.
the only repercussion possible, is that they MAY be able to stop the casino licencee from entering the country in the future, MAYBE, if the immigration department decide to enforce it.

Though the banks involvement is a different story all together. who knows what they have agreed to. but slowly pulling all our options to deposit and withdraw is probably the only way they will win :(
I am seriously going to study politics and law next year when my daughter starts school.. I WILL CHANGE THIS BULLSHIT RUN COUNTRY!

Actually, your right on the limited legal recourse to “illegal” foreign operators.

However the Government then just goes after the payment providers who are faciltating the payments, like Visa, so that doesn’t work either.

So then you could conceivably use Bitcoin only, but then you need to stock the casino with games people want to play, and there is no way the likes of MG and Netent are going to risk crossing them. So basically you are buggered.
 
Actually, your right on the limited legal recourse to “illegal” foreign operators.

However the Government then just goes after the payment providers who are faciltating the payments, like Visa, so that doesn’t work either.

So then you could conceivably use Bitcoin only, but then you need to stock the casino with games people want to play, and there is no way the likes of MG and Netent are going to risk crossing them. So basically you are buggered.


What I think is interesting is that we can DEPOSIT just fine with Mastercard/VISA and in few online casinos we still can withdrawn to Mastercard and VISA.

In other words, so far the online casinos are making sure they get our money easily giving plenty of options for deposits but not for withdrawn.

So one can assume that they will eventually stop deposits with Mastercard and Visa too.
 

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