Countries around the world have maintained different approaches towards the gaming industry since its inception. While a few countries labeled it as “illegal,” others gave it a flexible legal framework. Many developed countries like Australia decided to give the gaming industry a kick start.
Gaming is a very profitable industry in Australia, not only for operators but also for the country, as a whole. What’s the secret of the country’s success? What do they offer to gambling operators?
What’s the Secret Formula for Success?
Australia does not have any secret mantra behind its successful approach. The Australian government maintains a very straightforward and open approach to every emerging trend. When cryptocurrencies started gaining ground, the Australian Parliament made it legal in 2017.
Subsequently, crypto platforms became popular with Bitcoin payments being accepted across different sectors. The government described Bitcoin as a property. So, crypto became an effective weapon in the hands of the progressive Australian government.
The legalization of cryptocurrencies ushered in tremendous developments in diverse sectors like finance, gaming, gambling, logistics, fashion, healthcare, travel, etc. In just 2 years, Australia has managed to secure the top position amongst the list of countries with the largest number of cryptocurrency-based platforms. Australia now claims to have the best Australian Bitcoin casinos. Those casinos dominate the local as well as the global landscape.
EU Countries Follow the Footsteps of Australia
European countries haven’t been able to come to a consensus regarding the legal terms of Bitcoin or other cryptocurrencies. The European Union (EU) has no official guidelines about crypto and the legality related to it. Therefore, respective members of the EU need to choose their approach independently.
Malta became the first country to follow Australia. The European country is famous for its crypto-friendly jurisdiction and the burgeoning gaming industry.
The Prime Minister of Malta is a strong advocate of blockchain and crypto. He started his campaign regarding crypto back in 2017 and has taken several initiatives to promote Crypto and BTC in the country, thereby, making it a crypto hub.