Economic Risk In China: Gambling Operators Use Crypto For International Fund Transfers


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News , Opinion Giorgi Mikhelidze Gambling-related risks have always been a problem for China. Gambling in China is illegal and the only places where it’s permitted are the gambling center of Macau, Taiwan, and Hong Kong. This often causes lots of illegal activities. Especially, it applies to cryptocurrencies which have long been associated with fraud in China. People in China often try to take part in money laundering activities via cryptos. But instead of regulating crypto-economies, the government decided to close all the operations across the board. Now it’s announced that illegal gambling operators moved one trillion yuan from the...