The Huizhou branch of the People’s Bank of China (PBOC), together with other Chinese regulators, has shut down online gambling sites where the USDT stablecoin was used for betting.
According to a statement from
the NBK’s office in Huizhou, 77 suspects were arrested and three gambling sites with USDT bets were closed. The statement was made via the Central Bank’s official WeChat channel and confirmed by a source who wished to remain anonymous.
The arrests were made in connection with alleged money laundering, which used assets obtained as a result of illegal online gambling, including the USDT stablecoin. According to law enforcement agencies, the total amount of money laundered is 120 million yuan ($17.95 million).
According to the NBK, ” opening a casino and participating in online gambling is illegal. “Don’t be curious and lucky. Any “disguise” will not help avoid regulatory oversight.”
Recall that a month ago, the People’s Bank of China (PBOC) began
blacklisting the accounts of large over-the-counter cryptocurrency traders as part of an anti-money laundering program. In addition, in September, Chinese police accused an over-the-
counter trader of laundering $73,500 through USDT