Gambling Gang uses crypto for illegal purposes - page 4.

plvbob0070

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Quote from: LogitechMouse on November 18, 2020, 08:21:14 PM

I'm thinking that the government are just banning gambling for the sake of their countrymen.
The negative side of gambling that it can give to the people is far more worst than the positive side of it can give but although there are some countries who are banning it, I agree that the gamblers tend to find another ways to gamble and online gambling is one of them.
Chinese people are fond of gambling and with online casinos emerging one by one online, for sure more Chinese people will gamble.

With regards to crypto being used in bad activities, it is already expected and even fiat had been used too in illegal activities so is this isn't uncommon already.

Does banning gambling in their country really help their people like getting addicted to gambling? I doubt that since it's up to us how are we going to control ourselves. There's a lot of Chinese gamblers here in my country so I don't think it's really helping them because the more they prohibit them from doing what they want, the more they will keep going further to do it which pushes them to do it illegally. Instead of banning, why not just regulate gambling and it will be a win-win situation for the gamblers and the government.

pankowri

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The same scenario is in my country too which is an Asian third world country. In here, cryptocurrency and gambling is not legalized and we the people using it with our own risk. If any officials can know about us then they will catch us and we will be punished.

Basically this is done by government to stop money laundering. Because, by using cryptocurrency and gambling, it can be done easily and tracking them will be difficult for them. China has the fastest growing economy of the world and people may try to scam by this following way.

kramchers

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Here in my country, there are some Casino are legally operated here in fact, they are supported actually by our government.
And aside from that what would expect from cryptocurrency, most of this are anonymous where it hard to track or trace it.
Especially if they are using any mixer every time they made a transactions like chipmixer, Bitmixer something like they are very hard to
trace actually.

fishbonez11

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Quote from: fiulpro on November 15, 2020, 08:10:11 AM

In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling.

https://cointelegraph.com/news/chinese-govt-official-gambling-gangs-use-crypto-to-transfer-funds-abroad/amp

There are limited amount that can be legally transferred as regulated by the government. This is where Cryptocurrency can be used to easily transfer funds to other country without any control and regulations of anyone even the authority. This might cause effect on the Cryptocurrency community, if this big transaction which is illegally performed may cause more strict control or banning the use (worst case) from the government of china.

peter0425

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Quote from: xSkylarx on November 18, 2020, 03:45:09 AM

Quote from: fiulpro on November 15, 2020, 08:10:11 AM

In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling.

Since it's online casino I'm pretty sure there's no form of illegal gambling there.

Who says that there is no illegal gambling in Online casino?not having a permit is already considerable as illegal since even in online gambling we have our legal rules and obligation.
But yeah it is harder to impose and put them in jail since they can hide their personalities in some matter.

Quote from: jademaxsuy on November 18, 2020, 06:05:37 PM

Money laundering could be part of it. They can easily lose the money in gambling for a certain purpose and that possibly is all about to proceed with the illegal transaction like drugs, transfer of money through gambling and other criminal activities. However, this crypto gang are discreet and I think there are only few of them uses this method in making the transactions.

Actually many of them now are using this process and they maybe not really a crypto gang instead they just know how to use crypto in doing this escape .

LogitechMouse

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Quote from: plvbob0070 on November 18, 2020, 10:50:13 AM

Quote from: jostorres on November 16, 2020, 02:42:49 PM

Quote from: plvbob0070 on November 16, 2020, 12:10:20 PM

Using crypto to illegally gamble is not actually new, and we have already seen similar news like this. Crypto is used in unlawful activities that give a bad image to it. China can be strict when it comes to this thing but I don't think that online casinos should be accountable when some Chinese people still choose to gamble on their site when they know it's illegal in their country. They will keep on finding ways to gamble, and it's not the casino's fault if their people choose to violate their law.

Illegal gambling cannot be stopped is it true because there are so many websites where you don't even have to give any identity verification no matter how big you gamble and win. There are certain countries where sports betting is banned and guys from there are comfortable playing on crypto casinos.

I don't know why even countries ban gambling when they know people will find ways of doing that, in fact if they legalize gambling they will earn good tax revenue from them which they are not earning by banning gambling.

I agree that their government would earn more if they legalize gambling. And AFAIK there's a lot of Chinese who gamble so, they even go outside their country to gamble. What more now that there's a lot of emerging online casinos that don't even require KYC and Chinese gamblers can still find ways to access gambling sites. So what's the point of prohibiting them when they will keep finding ways to gamble if they want to.

I'm thinking that the government are just banning gambling for the sake of their countrymen.
The negative side of gambling that it can give to the people is far more worst than the positive side of it can give but although there are some countries who are banning it, I agree that the gamblers tend to find another ways to gamble and online gambling is one of them.
Chinese people are fond of gambling and with online casinos emerging one by one online, for sure more Chinese people will gamble.

With regards to crypto being used in bad activities, it is already expected and even fiat had been used too in illegal activities so is this isn't uncommon already.

FontSeli

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Quote from: fiulpro on November 15, 2020, 08:10:11 AM

In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling.

They are taking it further by saying how it's not just a financial problem but it's a conspiracy against their nation as a whole.

Now they are making this bigger by saying how these cryptocurrencies and gambling are making it harder to track the transactions. BUT ! Isn't it easier to track these transactions as compared to fiat ??

Perhaps this is just an excuse to tighten the rules regarding crypto currencies circulation in China. Crypto currencies as well as fiat money can be used by both good people and criminals for their dirty purposes.
The Chinese authorities can't control the circulation of funds in cryptocurrencies, which is probably why they don't like them so much.

jademaxsuy

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Money laundering could be part of it. They can easily lose the money in gambling for a certain purpose and that possibly is all about to proceed with the illegal transaction like drugs, transfer of money through gambling and other criminal activities. However, this crypto gang are discreet and I think there are only few of them uses this method in making the transactions.

erikoy

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There are many members now knows how to use vpn and that really can make other persons appear to be from anywhere else by using the VPN. However, VPN do also good in browsing like wanted to keep privacy while surfing the internet or joining platform that can't do because you are restricted due to the countries mandate regarding some matter. However, I do believe that the use of VPN can do more good than harm.

FlightyPouch

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Quote from: coin-investor on November 17, 2020, 05:48:53 PM

Quote from: FlightyPouch on November 17, 2020, 05:33:12 PM

I know someone that is working in China for 12 years now who told me that there is a lot of illegal gambling happening in China. He's working in this store and usually, people talk at that store about these illegal gamblings. If this is the case, I agree that they should just let it be legal but as far as I know, they are in the religion of Buddhism so I think it is related to that?

As China policy and laws they do not adhere to religious teaching, they are not banning gambling because of Buddhism they are banning it because their parties created a law for their citizen since the communist party cane into power in 1949, it's surprising that although they ban gambling in mainland China they have a state own gambling casinos in Macau and Chinese citizens have a lot of underground gambling sites.

I agree that there are a lot of money to be made by the government of China, but do they need it since they have already making huge money from commerce, remember they are already a superpower.

As far as I know, there are a lot of Chinese POGOs in our country too which is legal here in our country to operate but illegal to give the service of that online casino inside our country. This just proves that the country of China could earn a lot of profits or taxes by regulating casinos or online casinos, they should reconsider this so they could contain their virus.

plvbob0070

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Quote from: jostorres on November 16, 2020, 02:42:49 PM

Quote from: plvbob0070 on November 16, 2020, 12:10:20 PM

Using crypto to illegally gamble is not actually new, and we have already seen similar news like this. Crypto is used in unlawful activities that give a bad image to it. China can be strict when it comes to this thing but I don't think that online casinos should be accountable when some Chinese people still choose to gamble on their site when they know it's illegal in their country. They will keep on finding ways to gamble, and it's not the casino's fault if their people choose to violate their law.

Illegal gambling cannot be stopped is it true because there are so many websites where you don't even have to give any identity verification no matter how big you gamble and win. There are certain countries where sports betting is banned and guys from there are comfortable playing on crypto casinos.

I don't know why even countries ban gambling when they know people will find ways of doing that, in fact if they legalize gambling they will earn good tax revenue from them which they are not earning by banning gambling.

I agree that their government would earn more if they legalize gambling. And AFAIK there's a lot of Chinese who gamble so, they even go outside their country to gamble. What more now that there's a lot of emerging online casinos that don't even require KYC and Chinese gamblers can still find ways to access gambling sites. So what's the point of prohibiting them when they will keep finding ways to gamble if they want to.

slapper

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Quote from: Renampun on November 17, 2020, 12:47:39 PM

transactions can't be traced? so how do they know there are trillions of yuan transactions abroad...
Cryptocurrency gambling is facing tough challenges since it makes it easier for users to gamble anywhere and without any privacy being leaked, the Chinese government is one example that wants to monitor and control everything in China including their citizens.

China always wants to monitor every single citizen in their country. If I was a gambler in China, I would wisely choose a casino with no territory restriction. There are many websites like that. They have gained their trusted for many years. Moreover, there have been many tested for p2p gambling plaform which are quite promising.

Gambling are still illegal in many places. Doing something illegal is surely forbid. Therefore, play your game in somewhere you cant be traced or if you can, gamble without leaving any footprint. How they hell would they know if you used a decentralized gambling website?

onrise

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Quote from: xSkylarx on November 18, 2020, 03:45:09 AM

Quote from: fiulpro on November 15, 2020, 08:10:11 AM

In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling.

Cryptocurrencies are commonly used by criminals to do illegal things not just in China. Those gang thought of a way to involve gambling to do their bad motives. Chinese government should impose a law about cryptocurrencies not in gambling. Since it's online casino I'm pretty sure there's no form of illegal gambling there.

Such gang create more ruckus in the bitcoin world because of such illegal activities which they do, quite a few governments are reluctant to make it legal in their country and still either in process to ban or some have already banned it. Because of few such gangs other have to suffer, but by bringing a stringent law regarding such activities in crypto space atleast they can discourage those people and let other ones do not suffer by using crypto who want to make use for personal or for their business need.

batang_bitcoin

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Quote from: carlfebz2 on November 17, 2020, 03:26:54 PM

Quote from: batang_bitcoin on November 17, 2020, 03:18:36 PM

Quote from: noorman0 on November 16, 2020, 12:19:37 PM

Looking at a country the size of China I am not sure that the Chinese will not avoid the ban.
The Chinese government should provide concessions and allow gambling to be able to control them by utilizing their modern technology, while still earning income from gambling taxes. In return, the consequences for violators of illegal activities in gambling will receive a harsher penalty than before.

They can control it and that's why they are starting to put sanctions and ban it as much as they can. It's what China mostly does if they want to stop censorship into an activity from their citizens and they want to monitor the ins and outs of activity including this. But the reality is that those citizens that do this can fly to the nearest country that they are free to go and just keep doing what they do. They can't track fiat unless they have some planned raid and knowing that it is a crypto transaction, really hard for them to track unless they start to have a suspicion with huge deposits and withdrawals.

Knowing China's type of government then it would always be keen when it comes to monitoring and transparency yet they dont like for things that do really hide from their eyes or scope of awareness.

This is why these kind of decisions will really be made on tracking out everything but i agree that it cant really be stopped nor being getting rid off it completely.

There are lots of various ways on how that citizen can surpass out those governments eyes and do all sorts of things that they do want.This is why illegal cant really be killed off
and been part of the reality but government do still try to find things up.

They have eyes almost everywhere and transactions that are catchy, they will never allow that to surpass in their surveillance. The law is harsh there that's why many are law abiders but everywhere, you will always get to see those that don't care with those laws.
And also, as I've said that they can do it elsewhere if they've been found out.

ethereumhunter

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Quote from: xSkylarx on November 18, 2020, 03:45:09 AM

Quote from: fiulpro on November 15, 2020, 08:10:11 AM

In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling.

Cryptocurrencies are commonly used by criminals to do illegal things not just in China. Those gang thought of a way to involve gambling to do their bad motives. Chinese government should impose a law about cryptocurrencies not in gambling. Since it's online casino I'm pretty sure there's no form of illegal gambling there.

Yes, and with cryptocurrency, they can transfer the money to other gangs without knowing what for the transaction. We can only know and see the transaction being made by the wallet, but we don't know if that wallet belongs to them. But I think the government will search and find out about that, and maybe they will know who is behind that transaction. But once again, we do not know if they use crypto for illegal purposes.

clickerz

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Quote from: xSkylarx on November 18, 2020, 03:45:09 AM

Quote from: fiulpro on November 15, 2020, 08:10:11 AM

In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling.

Cryptocurrencies are commonly used by criminals to do illegal things not just in China. Those gang thought of a way to involve gambling to do their bad motives. Chinese government should impose a law about cryptocurrencies not in gambling. Since it's online casino I'm pretty sure there's no form of illegal gambling there.

Not new that criminals are using cryptocurrencies to evade law enforcement, but its the government's job to pursue these bad people. The government can stretch its claws if it is serious about these criminals and not only from the crypto's point of view. BTW, there are exchanges that can freeze your account if it is suspicious or violated their terms like from gambling.

Gotumoot

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Crypto being used to do illegal things isn't new at all and they would always use anything that they could to make their work easier.
This has been an issue for so long and a reason why government are against crypto,
But isn't the same thing happens in Fiat? even before the crypto was created this kind of illegal act is being made even in Fiat so let's not blame crypto.
They could even trace it since all the transaction is recorded online.

bitbunnny

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I didn't even know there are gambling gangs. However, people have always misused everything that has value and brings them money, so cryptocurrencies are not exception.
It's not to cryptocurrencies and not to gambling industry that are being used for illegal purposes, it's not their fault.
I think that the line should be drawn and people should be aware that just because it can be misused Bitcoin and cryptocurrencies are not criminal by itself.

xSkylarx

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Quote from: fiulpro on November 15, 2020, 08:10:11 AM

In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling.

Cryptocurrencies are commonly used by criminals to do illegal things not just in China. Those gang thought of a way to involve gambling to do their bad motives. Chinese government should impose a law about cryptocurrencies not in gambling. Since it's online casino I'm pretty sure there's no form of illegal gambling there.

DoublerHunter

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^ Outlawed and criminals can really use bitcoin and another cryptocurrency for their illegal activity such as money laundering for there is no way to track who owns the particular bitcoin in the circulation unlike with fiat it can still be tracked because it is centralized. With regards to the concern of OP the blame should not be given to any cryptocurrency nor the gambling activity instead it should be with their government since they made a law making gambling illegal but they should have supporting regulations or at least amend it in a timely manner that can minimize all the consequences subsequently and not just to blame anyone or anything for the shortcoming on this law.

Topic: Gambling Gang uses crypto for illegal purposes - page 4. (Read 1368 times)