Bitcoin Casions in Australia: Legalities & Regulations

Dec 26, 2017 Admin Regulation

With Bitcoin value constantly on the rise, it has become evident that regulatory frameworks surrounding its operations and other crypto-currencies should be put in place. Not to be left behind are online casinos which transact only in bitcoins. 

Until recently, only China and Japan had shown unwavering desire to regulate bitcoin exchanges including casinos, now Australia has also joined the pack. According to, in the year 2016/2017, Australian pokies suffered their worst trend ever since 2002 prompting fears that the gambling industry may be declining fast. This was majorly attributed to emergence of online casino games and illegal gambling website.

The Economist named Australia as the biggest online gambling heaven with a probable annual loss of 900$ per adult player. This report also predicts a 15% year-over-year growth in this industry. 

Legalities & Regulations

Limited gambling opportunities pushed players into the black online markets and this prompted the A...

Taiwan Paves Way for The Use of Bitcoin and Other Cryptocurrencies

Dec 26, 2017 Admin Regulation

Taiwan has decided not to join China and South Korea’s league in outright banning of cryptocurrencies. In the past, Taiwan had issued public warnings about the risks associated with using and trading bitcoins and other digital currencies. While Taiwan people won’t find ATMs for bitcoins in this country, as it is considered to be illegal, they can still buy, sell and trade bitcoins and other cryptocurrencies.

Wellington Koo, the chairman of Taiwan’s Financial Supervisory Commission has promised to change Taiwan’s perspective about bitcoins and other virtual currencies and adopt a more positive approach to develop a legal framework for adopting blockchain technology.

Taiwan’s Efforts in Making Bitcoin and Other Cryptocurrencies Legal and regulating these Virtual Currencies

The Financial Technology Innovation Experimentation Act’ bill, that was proposed by Executive Yuan right after Koo’s pledge to adopt blockchain technology, and later approved by the Legislat...

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