Topic: Police Seize $1.5 Million in FIFA Gambling Crackdown - page 3. (Read 637 times)
It does necessarily put cryptocurrency in a bad spot light. It is was just the medium of payment, not the crime itself. Same probably would have been the case if fiat was used as the currency involved. Gambling is a regulated industry in most advanced climes
Wow looks like the Chinese are even using crypto to gamble locally, that's somewhat exciting news. The more use it gets there, the better.
Is there legislation in China about using crypto to gamble or is this just strict government control with no oversight going on?
Is there legislation in China about using crypto to gamble or is this just strict government control with no oversight going on?
AFAIK gambling in China is forbidden by the law.That's why most Chinese gamblers visit Makao,I guess.
I don't see anything exciting in the news.In this case,cryptocurrencies are being used for illegal activities,which doesn't help for convincing the noobs,that crypto isn't a shady tool used by many criminals.
They are forbidden in China, but look who are the owners of casinos in Macau and other neighbouring countries? Most of them are Chinese. Very ironic, right? And yes, for a noob to read this, he will surmise that crypto is really used for illegal activities. But then, he should educate himself to gain knowledge how crypto really works and how businesses benefit from the use of it.
1.5 million dollars is a lot of money for us but a low budget for rich people.
This is, in my opinion, a classical clickbait article to get more viewers as possible to get more money form ads. Nothing relevant here.
This is, in my opinion, a classical clickbait article to get more viewers as possible to get more money form ads. Nothing relevant here.
Wow looks like the Chinese are even using crypto to gamble locally, that's somewhat exciting news. The more use it gets there, the better.
Is there legislation in China about using crypto to gamble or is this just strict government control with no oversight going on?
Is there legislation in China about using crypto to gamble or is this just strict government control with no oversight going on?
AFAIK gambling in China is forbidden by the law.That's why most Chinese gamblers visit Makao,I guess.
I don't see anything exciting in the news.In this case,cryptocurrencies are being used for illegal activities,which doesn't help for convincing the noobs,that crypto isn't a shady tool used by many criminals.
That's true they are migrating in the Philippines and some other nearby countries so they can operate their online gambling network, there have been many raids here involving Chinese gambling operator, it's still illegal here but they have much corrupt government official that's backing them out.
The police officials of China seize down a 1.5 million dollars worth of crypto that is a part of the gambling crackdown last year in 2018 FIFA World Cup. The cryptocurrencies are recognized as bitcoin, ethereum and litecoin.
The officials arrested the organizers of the event and seize the 1.5 million dollars of crypto and 750 thousand dollars of renminbi in banks.
It's huge money though.
source: https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
The officials arrested the organizers of the event and seize the 1.5 million dollars of crypto and 750 thousand dollars of renminbi in banks.
It's huge money though.
source: https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
That is like dipping a small pail in the ocean and making a small splash with the pail while doing so.
Chinese gambling industry is larger than 30 billion dollars mate. And Macau and Hongkong are the prime places where it is conducted from. These chinese officials making a few arrests here and there are largely done by the gambling mafia taking out their small countryside rivals.
Might be a good idea to add a source to your post, especially since you just copied that title from a Coindesk article.
Pretty close to plagiarism, I'd say, even though you've written the post content yourself.
https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
Pretty close to plagiarism, I'd say, even though you've written the post content yourself.
https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
I revised it a little and forgot about the source. Thanks for informing me! already edited.
AFAIK gambling in China is forbidden by the law.That's why most Chinese gamblers visit Makao,..
^ It's Macau bro, but you are completely right that the Chinese government was strictly prohibited and not allowed to operate legally in any gambling industries either related crypto or using fiat in a casino. That's why gambling casino is on Macau only the biggest source of revenue in gambling and also the tourist spot for all gamblers. I never doubt that the Chinese police was seized that gambling company and arrested the organizer because they are obviously illegal. Good thing this isn't showing effect in the crypto market.China hates cryptocurrency, It affects their economic rate because they still want to reign so they're avoiding it. There's a lot of casinos in Macau, actually, I know someone that has been traveled there and said that there's a lot of Chinese visiting there.
AFAIK gambling in China is forbidden by the law.That's why most Chinese gamblers visit Makao,..
^ It's Macau bro, but you are completely right that the Chinese government was strictly prohibited and not allowed to operate legally in any gambling industries either related crypto or using fiat in a casino. That's why gambling casino is on Macau only the biggest source of revenue in gambling and also the tourist spot for all gamblers. I never doubt that the Chinese police was seized that gambling company and arrested the organizer because they are obviously illegal. Good thing this isn't showing effect in the crypto market.
If it is not authorized by the government of China then it is illegal and right now I guess China is prohibiting the use of cryptocurrency illegally in their country and they are starting out with illegal gambling, And this kind of negative news is not gonna make the price of bitcoin rose, and the confiscation of the $1.5 Million worth of bitcoin to the custody of the government can have a negative effect we may never know what can they to with it,
I guess if they don't advertise that said gambling site then the police would not notice it, And they can never have any problem at all, But how can they get user or gamblers playing on their site, I guess a private message can be appropriate.
I guess if they don't advertise that said gambling site then the police would not notice it, And they can never have any problem at all, But how can they get user or gamblers playing on their site, I guess a private message can be appropriate.
Wow looks like the Chinese are even using crypto to gamble locally, that's somewhat exciting news. The more use it gets there, the better.
Is there legislation in China about using crypto to gamble or is this just strict government control with no oversight going on?
Is there legislation in China about using crypto to gamble or is this just strict government control with no oversight going on?
AFAIK gambling in China is forbidden by the law.That's why most Chinese gamblers visit Makao,I guess.
I don't see anything exciting in the news.In this case,cryptocurrencies are being used for illegal activities,which doesn't help for convincing the noobs,that crypto isn't a shady tool used by many criminals.
Might be a good idea to add a source to your post, especially since you just copied that title from a Coindesk article.
Pretty close to plagiarism, I'd say, even though you've written the post content yourself.
https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
Pretty close to plagiarism, I'd say, even though you've written the post content yourself.
https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
The police officials of China seize down a 1.5 million dollars worth of crypto that is a part of the gambling crackdown last year in 2018 FIFA World Cup. The cryptocurrencies are recognized as bitcoin, ethereum and litecoin.
The officials arrested the organizers of the event and seize the 1.5 million dollars of crypto and 750 thousand dollars of renminbi in banks.
It's huge money though.
source: https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
The officials arrested the organizers of the event and seize the 1.5 million dollars of crypto and 750 thousand dollars of renminbi in banks.
It's huge money though.
source: https://www.coindesk.com/police-seize-1-5-million-in-crypto-during-fifa-gambling-crackdown
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