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Australia does not yet regulate cryptocurrency gambling, though the government is working towards transparency. Existing rules and regulations exist that touch on cryptocurrencies - for instance the Anti-Money Laundering and Counter-Terrorism Financing Act covers this area - yet regulation remains difficult since cryptocurrency can be used anonymously making oversight more challenging. Watch UFC Live Free Now, Australian gambling regulations are overseen by state and territory governments, with each having its own set of rules that betting sites must abide by in order to operate legally and avoid fines or even closure. Furthermore, governments are concerned about problem gambling; various regulations have been put in place to discourage this behavior - such as restricting how often customers place bets per person as well as laws designed to safeguard children against online gambling sites.
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