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Cryptocurrency helps ship 1 trillion yuan out of China to casinos, gambling every year

Summary:
[unable to retrieve full-text content]At least 1 trillion yuan (US5.5 billion) worth of funds flows out of China into gambling activities every year, aggravating the country’s economic and financial security risks, according to a senior official at the Ministry of Public Security.Gangs running illegal gambling operations use digital currencies to collect and transfer funds, making it difficult to trace the source and adding significant challenges to investigations, said Liao Jinrong, the director general of the International…

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[unable to retrieve full-text content]
At least 1 trillion yuan (US$145.5 billion) worth of funds flows out of China into gambling activities every year, aggravating the country’s economic and financial security risks, according to a senior official at the Ministry of Public Security.Gangs running illegal gambling operations use digital currencies to collect and transfer funds, making it difficult to trace the source and adding significant challenges to investigations, said Liao Jinrong, the director general of the International…

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