TheNews

The Northern Territory Racing Commission (NTRC), the Australian regional gambling regulator, is set to ban gambling using cryptocurrency in Australia. NTRC is against adding cryptocurrencies to Australian Gambling Websites.



The chairman of the NTRC has reportedly sent out an informal email to all sports bookmakers and betting exchange operators in the Northern Territory asking them to immediately cease and desist from transacting in cryptocurrency.

These include ban of cryptocurrency ads by Facebook, and India as well as other regulators around the world taking strong stance against it. The price of bitcoin has more than halved from its all-time high around $20,000 in mid-December 2017. No different are other major digital currencies.

Banking majors around the world, including JPMorgan Chase, Bank of America, Citi, and Lloyds Banking, have also banned their customers from buying cryptocurrencies using credit card.

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