Australian Territory Racing Commission(NTRC) is seeking help from local bookies to be able to place bets with cryptocurrencies.
The table where the crypto industry is no longer present is almost non-existent. Of course, it is inevitable that cryptocurrencies, which are included in the functioning of our daily life, take place in the betting world. NTCR, which did not take kindly to cryptocurrencies in 2018, is a fan for use today.
Australia Opens Doors to Betting With Cryptocurrency
NTRC, Australia’s primary regulator of online sports betting, has published a draft regulatory framework that will allow licensees to both accept bets made in cryptocurrencies and pay crypto winnings to lucky people.
NTRC is asking for details on which digital assets interested bookmakers would prefer to use. The Commission has given licensees until 29 September to submit their feedback, including whether they are genuinely interested in offering non-fiat options to their customers.
With the volatility of cryptocurrencies, there is no clear information yet on how the additional deposit/withdrawal costs will be regulated if blockchain transaction fees spike in prices due to network congestion or other factors.
